UPSC CDS I 2024 GK Paper

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Question : 63 of 120

Marks: +1, -0

Under normal downward sloping demand curve and fully elastic supply curve of a commodity, an exogenous decrease in demand would lead to

increase in equilibrium price and quantity
decrease in equilibrium price and quantity
decrease in equilibrium quantity and no change in price
increase in equilibrium price and no change in quantity

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