Quantity of a commodity which is bought and sold at the equilibrium price is called?

• Maximum quantity

• Minimum quantity

• Both (a) and (b)

• Equilibrium quantity

Why is the equality between marginal cost and marginal revenue necessary for a firm to be in equilibrium? Is it sufficient to ensure equilibrium? Explain.

Market for a good is in equilibrium. The demand for the good 'increases'. Explain the chain of effects of this change.

Market of a commodity is in equilibrium. Demand for the commodity "increases." Explain the chain of effects of this change till the market again reaches equilibrium. Use diagram.

Giving reasons, state whether the following statements are true or false.
A monopolist can sell any quantity he likes at a price.

Market for a good is in equilibrium. There is simultaneous increase both in demand and supply of the good. Explain its effect on market price.

Market for a good is in equilibrium. There is simultaneous decrease both in demand and supply of the good. Explain its effect on market price.

Market for a good is in equilibrium. There is an 'increase' in demand for this good. Explain the chain of effects of this change. Use diagram. 

What is minimum price ceiling? Explain its implications.

If the prevailing market price is above the equilibrium price, explain its chain of effects.