Q.61)-Increase in the demand for a good will cause the equilibrium price of the good to _____and the equilibrium quantity to ______.
  • Increase - increase
  • Decrease - increase
  • Increase - decrease
  • Decrease - decrease
Q.62)-If quantity of a good demanded increases from 200 to 250 then the average income of the population increase from Rs 20,000 to Rs 30,000, find are income elasticity of demand?
  • 1.45
  • 0.55
  • 2
  • 1.25
Q.63)-If demand curve for an electric tooth brush is D = 25000 - 7P and supply curve is S = 10000+8P, find the equilibrium Price?
  • Rs 150
  • Rs 1000
  • Rs 400
  • Rs 50
Q.64)-If demand curve for radial car tyres is D = 220000 - 19P and supply curve is S=180000 + 6P, find the equilibrium Quantity?
  • 19200 units
  • 291000 units
  • 29100 units
  • 192000 units
Q.65)-If demand curve for renting a car is D = 90000 - 23P and supply curve is S=9000 + 7P, find the equilibrium Price?
  • Rs 1800
  • Rs 900
  • Rs 3600
  • Rs 2700
Q.66)-If price of an article decrease from Rs80 to Rs 60,quantity demanded increase from 600 units to 750 units. Find point elasticity of demand ?
  • -1
  • 1
  • -1.25
  • 1.25
Q.67)-If price of a article decrease from Rs P1 to Rs 1000 units. If point elasticity of demand is -1, then find P1?
  • 100
  • 250
  • 200
  • 225
Q.68)-If price of an article decreses from Rs 800 to Rs 750, when quantitydemanded increases from Q1 units to 2250 units, and if point elasticity of demand is -2 find Q1?
  • 2400 units
  • 2000 units
  • 1800 units
  • 1500 units
Q.69)-If demand curve for house cleaning services is D = 45000 - 21P and supply curve is S = 15000 + 9P, find the equilibrium Quantity?
  • 12000 units
  • 6000 units
  • 24000 units
  • 30000 units
Q.70)-If demand curve for alphonso mangoes is D = 45000 - 21P and supply curve is S = 15000 +9P, find the equilibrium Quantity
  • 18,000 units
  • 2,000 units
  • 1,800 units
  • 200 units