From the following two statements of Assertion (A) and Reason (R) suggest the correct option.
Assertion (A) The equilibrium price is decided at the level where the quantity demanded equals the quantity supplied.
Reason (R) At this level excess of demand and excess of supply both remain zero.

A) (A) is correct, but (R) is incorrect B) (A) is incorrect, but (R) is correct C) (A) and (R) both are correct, but (R) is not right explanation of (A) D) (A) and (R) both are correct and (R) is the right explanation of (A)

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Correct Answer: Option D

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From the following two statements of Assertion (A) and Reason (R)...

From the following two statements of Assertion (A) and Reason (R) suggest the correct option. Assertion (A) The equilibrium price is decided at the level where the quantity demanded equals the quantity supplied. Reason (R) At this level excess of demand and excess of supply both remain zero.

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Related Questions on Managerial Economics

From the following two statements of Assertion (A) and Reason (R) suggest the correct option.
Assertion (A) The equilibrium price is decided at the level where the quantity demanded equals the quantity supplied.
Reason (R) At this level excess of demand and excess of supply both remain zero.