CUET Economics 2025 22 May Shift 1 - Let us consider the example of a market consisting of identical farms producing the same quality of wheat. Suppose the market demand curve and the market supply curve for wheat are given by: qᵈ = 200 - p and qˢ = 120 + p. What is the equilibrium price? | PYQs + Solutions

CUET Economics 2025 22 May Shift 1

Micro

Medium

Rs. 40 per kg

Rs. 30 per kg

Rs. 50 per kg

Rs. 20 per kg

✅ Correct Option: 1

Related questions:

30 May Shift 1

Arrange the stages of price determination in a perfect competition market:

(A) Estimate the market demand and supply.

(B) Firms adjust production to maximize profit.

(D) Short-run profit attracts new firms.

Choose the correct answer from the options given below:

22 May Shift 1

Arrange a statement of market equilibrium when the demand curve shifts leftward:

(A). The shift indicates that at any price the quantity demanded is less than before.

(B). Some firms will reduce the price of their commodity so that they can sell their desired quantity.

(C). Excess supply will arise.

(D). At the new equilibrium, quantity and price will be less than before.

Choose the correct answer from the options given below:

16 May Shift 1

Match List-I with List-II

List-I	List-II
(A) Excess demand	(I) Supernormal profits
(B) Excess supply	(II) Perfect competition
(C) Entry of new firms in the market	(III) Price tends to fall
(D) Price taker	(IV) Price tends to rise

Choose the correct answer from the options given below:

CUET Economics 2025 22 May Shift 1 PYQs