Option 1: Rs. 40 per kg -> At equilibrium, quantity demanded equals quantity supplied (qᵈ = qˢ). Setting 200 - p = 120 + p, we get 200 - 120 = 2p, which gives 80 = 2p, so p = 40. At this price, both qᵈ and qˢ equal 160 units, confirming market equilibrium where there is no shortage or surplus. -> correct
Let us consider the example of a market consisting of identical farms producing the same quality of wheat. Suppose the market demand curve and the…
CUET UG 2025 — Economics Micro
2025mcqmedium
Let us consider the example of a market consisting of identical farms producing the same quality of wheat. Suppose the market demand curve and the market supply curve for wheat are given by: qᵈ = 200 - p and qˢ = 120 + p. What is the equilibrium price?
Official previous-year question
Held on 22 May 2025 · Verified 13 Jul 2026.
Options
- A
Rs. 40 per kg
- B
Rs. 30 per kg
- C
Rs. 50 per kg
- D
Rs. 20 per kg
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