CUET Economics - Suppose the demand and supply curve of commodity X in a perfectly competitive market are given by: q_d = 700 - p q_s = 500 + 3p Assume that the market consists of identical firms. What will be the equilibrium price for this commodity? | PYQs + Solutions

CUET Economics 2026 15th May Shift 1

Micro

Easy

✅ Correct Option: 3

Related questions:

23rd May Shift 1

Suppose the government sets a price for agricultural goods in the market. The market would react unless measures are taken by the government to maintain the price. Arrange the correct sequence for the procedure.

A. There would be excess supply in the market.

B. The government needs to buy the surplus at a pre-determined price.

C. The prices would fall.

D. Prices for agricultural goods are set higher than the market price by the government.

Choose the correct answer from the options given below:

28 May Shift 2

A market where firms can choose where to locate production and workers can choose where to work is called?

31 May Shift 1

Match List-I with List-II

List-I	List-II
(A) Demand shifts right and supply remains unchanged.	(I) Price increase, quantity increases.
(B) Supply shifts right and demand remains unchanged.	(II) Price decrease, quantity increases.
(C) Demand shifts left and supply shifts left.	(III) Quantity decreases.
(D) Supply shifts right and demand shifts right.	(IV) Quantity increases.

Choose the correct answer from the options given below:

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)
(A) - (II), (B) - (I), (C) - (III), (D) - (IV)
(A) - (I), (B) - (II), (C) - (IV), (D) - (III)
(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

CUET Economics 2026 15th May Shift 1 PYQs

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