Question

In a market, the government lowers the excise duty to encourage the producers but at the same time general consumer reduces its interest in the product due to change in fashion. These changes affect the market in such a way that quantity bought and sold still increases. Explain how

Answer 1

GENERAL INSTRUCTIONS ... This shift can be caused by: (Choose the correct alternative) ... Explain the effects of floods in Jammu and Kashmir on its production .... Alternatively, marginal product first increases then it decreases and .... These changes continue till the market is in equilibrium again, but at a ...