When price is below equilibrium level, there will be Options: A . &nbspSurplus commodity in the market B . &nbspShortage of commodity in the market C . &nbspSupply curve will shift D . &nbspDemand curve will shift

When price is below equilibrium level, there will be

Question

When price is below equilibrium level, there will be

Options:

A . Surplus commodity in the market

B . Shortage of commodity in the market

C . Supply curve will shift

D . Demand curve will shift

Answer: Option B

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Question 1. The following are causes of shift in demand EXCEPT....

Question 2. An increase in the supply of a commodity is caused by....

Question 3. Demand for a commodity refers to a....

Question 4. Elasticity of supply refers to the degree of responsiveness of supply of a commodity to changes in its....

Question 5. When demand is perfectly inelastic, an increase in price will result in....

Question 6. When equilibrium price rises but equilibrium quantity remains unchanged, the cause is....

Question 7. The cost on one thing in terms of the alternative given up is known as....

Question 8. If demand is unitary elastic, a 25% increase in price will result in....

Question 9. Contraction of demand is the result of....

Question 10. According to M. Kalecki, the true measure of the degree of monopoly power is the....

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