You visited us 2 times! Enjoying our articles? Unlock Full Access!

Byju's Answer

Standard XII

Chemistry

Arrhenius Equation

Questions are...

Question

Questions are based on the demand and supply diagrams in Figure.
In the given figure, $D_{1}$ and $S_{1}$ are the original demand and supply curves $D_{2}, D_{3}, S_{2}$ and $S_{3}$ are possible new demand and supply curves. Starting from initial equilibrium point (1) what point on the graph most likely to result from each change?

$\to$ Suppose wage rate of coal mineral increases and price of natural gas decreases. (coal and natural gas are substitutes), what point in the figure is most likely to be the equilibrium price and quantity?

Point 6

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Point 4

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Point 3

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Point 2

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B Point 4
Demand decreases because price of natural gas decreases and there is a direct relation between the price and demand of two substitute goods. Supply also decreases because cost of factors of production (wages) increases. Thus, Point 4 marks the new equilibrium point.

Suggest Corrections

Similar questions

Q. Questions are based on the demand and supply diagrams in Figure

D_{1}

and

S_{1}

are the original demand and supply curves

D_{2}, D_{3}, S_{2}

and

S_{3}

are possible new demand and supply curves. Starting from initial co librium point (1) what point on the graph most likely to result from each change?

\to

Assume that consumer income has increased. Given that Y is an inferior good, which point in Figure is most likely to be the new equilibrium price and quantity?

Q. Questions are based on the demand and supply diagrams in Figure

D_{1}

and

S_{1}

are the original demand and supply curves

D_{2}, D_{3}, S_{2}

and

S_{3}

are possible new demand and supply curves. Starting from initial co librium point (1) what point on the graph most likely to result from each change?

\to

Assume that the government has just removed the 10% excise duty on good X. What point in Figure 1 is most likely to be the new equilibrium price and quantity?

Q. Questions are based on the demand and supply diagrams in Figure

D_{1}

and

S_{1}

are the original demand and supply curves

D_{2}, D_{3}, S_{2}

and

S_{3}

are possible new demand and supply curves. Starting from initial co librium point (1) what point on the graph most likely to result from each change?

\to

A government research agency has published outcome of studies which say that consumption of good X could cause cancer. In addition, assume that a powerful lot has persuaded the government to give subsidy to the manufacturers of good X. what point in Figure is most likely to be the new equilibrium price and quantity?

How are the equilibrium price and quantity affected when

(a) both demand and supply curves shift in the same direction?

(b) demand and supply curves shift in opposite directions?

Show with the help of a diagram, the effect on equilibrium price and quantity when:
(i) Demand is perfectly elastic and supply decreases.
(ii) Supply is perfectly inelastic and demand increases.
(iii) The demand curve is perfectly elastic and the supply curve shifts outwards.

Join BYJU'S Learning Program

The correct option is B Point 4Demand decreases because price of natural gas decreases and there is a direct relation between the price and demand of two substitute goods. Supply also decreases because cost of factors of production (wages) increases. Thus, Point 4 marks the new equilibrium point.

The correct option is B Point 4
Demand decreases because price of natural gas decreases and there is a direct relation between the price and demand of two substitute goods. Supply also decreases because cost of factors of production (wages) increases. Thus, Point 4 marks the new equilibrium point.