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problem 1: What will be the impact of raise in the excise duty on the Equilibrium Price and Quantity of a Commodity? Illustrate by using a diagram.

problem 2: Describe the feature of large number of firms and Buyers under the Perfect competition.

problem 3: How does raise in the price of Steel influence the equilibrium price and quantity of cars? Describe with the help of appropriate diagram.

problem 4: With the help of a diagram describe how an increase in the income level impacts the Equilibrium Price of shirts.

problem 5: There is a Simultaneous modification in demand and supply of a Commodity and Equilibrium price raises. Describe this with the help of an illustration.

problem 6: Describe the following characteristics of Perfect competition:

a) Large number of firms and buyers
b) Homogeneous Product

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M97734

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