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Questions › CUET-PG › CUET-PG 2018 › Q60
4 marks, −1Microeconomics › Perfect competition › Market equilibrium and comparative staticsModerateabout 1 min

CUET-PG 2018 Question 60: Perfect competition

Energizer batteries and Duracell batteries are substitutes. Energizer cuts supply and raises the price of its batteries. For Duracell, the equilibrium price will ___ and the equilibrium quantity will ___ in the market.

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Answer and worked solution

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Perfect competition has come up 115 times in 7 exams since 2006.

What this question tests

This question is on Market equilibrium and comparative statics, part of Perfect competition in Microeconomics.

Finding equilibrium from demand and supply and tracing how it moves when either curve shifts.

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