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Subject - Economics:

Microeconomics

MCQ - 10-4020

Question:

If the market is initially in equilibrium, which of the following would create a new equilibrium at point H?

  1. A decrease in consumer income if this good is normal.
  2. An increase in the price of a substitute for this good.
  3. A decrease in the cost of a production input for this good.
  4. An increase in the price of a substitute for this good.
  5. An increase in consumer income if this good is normal.

Correct Answer: C

Explanation:

A rightward shift in supply would move the market to point H and lower input prices would do just that.

Record Performance

269 MCQ for effective preparation of the test of Microeconomics of Economics section.

Read the MCQ statement: If the market is initially in equilibrium, which of the following would create a new equilibrium at point H? , keenly and apply the method you have learn through the video lessons for Microeconomics to give the answer. Record your answer and check its correct answer and video explanation for MCQ No. 10-4020.

How to Answer

Solve the question for MCQ No. and decide which option (A through D/E) is the best choice to answer the MCQ, then click/tap the blue button to view the correct answer and it explanation.

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