1. The price of a commodity is Rs. 20 and the quantity demanded at this price is 200 units. If the price falls to Rs. 16 and the quantity demanded increases to 280 units, calculate the price (arc) elasticity
2. Price control will effect the monopolist firm's
3. Which is the method of measuring GNP?
4. Consider the following demand schedule
Price per unit (Rs.)
Quantity demanded (000)
6
3
5
9
4
15
3
20
When price falls from Rs. 5 to Rs. 4, elasticity of demand can be expressed numerically as
| Price per unit (Rs.) | Quantity demanded (000) |
| 6 | 3 |
| 5 | 9 |
| 4 | 15 |
| 3 | 20 |
5. Given, $$ = \sum\limits_{t = 1}^n {\frac{{T{R_t} - T{C_t}}}{{{{\left( {1 + i} \right)}^t}}}} $$
The above formula may be used for:
The above formula may be used for:
6. Excess capacity is not found under
7. In the long-run, due to blocked entry pure profits can be made by
8. An entrepreneur will stay in business in the long run as long as he meets
9. If the demand curve is a rectangular hyperbola, elasticity is
10. In the case of an inferior good, the income effect
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