CUET Economics - 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:

28 May Shift 2

When Government fix the minimum price of any commodity this move of government is known by:

28 May Shift 1

Match List-I with List-II

List-I	List-II
(A) Upper limit on price of goods & services	(I) Leads to excess supply.
(B) Free entry and exit	(II) Equilibrium price = min AC of the firms.
(C) Marginal revenue product of labor (MRP_L)	(III) Leads to excess demand.
(D) Lower limit on price of goods & services	(IV) MR x MP_L.

Choose the correct answer from the options given below:

3 June Shift 2

Arrange the given statements in chronological order stating the implications of free entry and exit assumptions in a equilibrium market.

(A) Supply curve shifts rightward, however demand remains unchanged.

(B) At the prevailing market price, each firm is earning a supernormal profit and will attract some new firms.

(D) All firms in the market are earning normal profit, no more firms will have incentive to enter.

Choose the correct answer from the options given below:

CUET Economics 2025 22 May Shift 1 PYQs