Practicing Success
Practicing Success
CUET Preparation Today
| Read the following statements - Assertion (A) and Reasoning (R): Assertion: If there is excess demand in the market at price p1, the market price will decrease. Reasoning: Some consumers who are either unable to obtain the commodity at all or obtain it in insufficient quantity will be willing to pay more than p1. |
Both Assertion (A) and Reasoning (R) are true and Reasoning (R) is the correct explanation of Assertion (A). Both Assertion (A) and Reasoning (R) are true and Reasoning (R) is not the correct explanation of Assertion (A). Assertion (A) is true but Reasoning (R) is false. Assertion (A) is false but Reasoning (R) is true.
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| Assertion (A) is false but Reasoning (R) is true. |
| If there is excess demand in the market at price p1, the market price will increase. Some consumers who are either unable to obtain the commodity at all or obtain it in insufficient quantity will be willing to pay more than p1. |
