Economics · Microeconomics
Given below are two statements: Assertion (A): The equilibrium price is decided at the level where the quantity demanded equals the quantity supplied. Reason (R): At this level, excess demand and excess supply both remain zero. Select the correct code:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1(A) and (R) both are correct and (R) is the correct explanation of (A).✓
- 2(A) and (R) both are correct but (R) is not the correct explanation of (A).
- 3(A) is incorrect but (R) is correct.
- 4(A) is correct but (R) is incorrect.
Correct answer
(A) and (R) both are correct and (R) is the correct explanation of (A).
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