Suppose, there is an increase in the income of the consumers, that shifts the demand curve to the right. What will be the change in the equilibrium condition?

Price ceilings are also known as............

The price elasticity of demand is different at different points on the linear demand curve. Arrange the elasticity point on a downward sloping (left to right) demand curve.

(A). |ed| < 0

(B). |ed| = 1

(C). |ed| > 1

(D). |ed| < 1

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Floor prices are meant for the welfare of

Arrange the following statement when the market demand curve shifts rightward with the supply curve remaining unchanged.

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

(B) Some individuals will be willing to pay higher price and the price would tend to rise.

(C) There is excess demand.

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

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Arrange the following statements in correct sequence to determine the market equilibrium when the number of firms is fixed.

(A) There is excess demand in the market.

(B) Quantity demanded falls due to law of demand and quantity supplied increases due to law of supply(keeping other factors constant)

(C) The market price would tend to increase.

(D) The market moves towards the point where the quantity that the firms want to sell is equal to the quantity that the consumers want to buy.

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If additional unit tax imposed on goods by the government, then how it will be affect the movement of supply curve?