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Question Practice

In a scenario of free entry and exit, which factor does NOT change the equilibrium price?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Economics
Introductory Microeconomics
Market Equilibrium
Question Bank

In a scenario of free entry an...

Single Answer MCQ
Q-00089627

In a scenario of free entry and exit, which factor does NOT change the equilibrium price?

1

Change in consumer preferences

2

Introduction of technological advancements

3

Random market speculation

4

Number of firms in the market

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Q1.

What is market equilibrium?

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Q3.

What occurs at a price above the equilibrium price?

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Q4.

What is the equilibrium price in a perfectly competitive market?

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