Practicing Success
Practicing Success
CUET Preparation Today
| Read the following statements - Assertion (A) and Reasoning (R): ASSERTION: Graphically, an equilibrium is a point where the market supply curve intersects the market demand curve REASONING: The market demand equals market supply in equilibrium. From the given alternatives choose the correct one: |
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. |
| Both Assertion (A) and Reasoning (R) are true and Reasoning (R) is the correct explanation of Assertion (A). |
| In equilibrium, market demand is equal to market supply. So graphically put, equilibrium is attained at a point where market demand curve and market supply curve intersect each other. |
