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