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State whether the following statements are true or false: (a) With supply curve remaining unchanged, when

Monjur Alahi

State whether the following statements are true or false:

(a) With supply curve remaining unchanged, when demand curve shifts rightward, the equilibrium quantity decreases and equilibrium price decreases. 

(b) In a perfectly competitive market, equilibrium occurs where market demand equals market supply.


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1 Answers

Salim Ahmed Kawsar

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(a) False 

(b) True

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