Q.71)-If price of an article decrease from Rs 240 to Rs 220, when quantity demanded increases from 200 units to 210 units. Find point elasticity of demand?
- 0.6
- -1.8
- -0.6
- 1.8
Q.72)-If demand curve for roller skates is D = 23000 - 19P and supply curve is S = 18000 + 6P, find the equilibrium Price?
- Rs 100
- Rs 400
- Rs 50
- Rs 200
Q.73)-If price of an article decreases from Rs P1 to Rs 190, when quantity demanded increase from 5000 units to 5200 units,and If point elasticity of demand is -0.8 find P1?
- Rs 220
- Rs 240
- Rs 200
- Rs 250
Q.74)-The law of Demand is based on the concept that people ________.
- Buy more of a good as their income increases
- Buy more of good as the price of the good falls
- Will spend all of their money on something
- Want more of everything even if they have no money to buy anything
Q.75)-If price of an article decrease from Rs 100 to Rs 80, when quanitity demanded increases from Q1 units to 4600 units, and if point elasticity of demand is -0.75, Q1 = ?
- 5000 units
- 4000 units
- 3000 units
- 2000 units
Q.76)-For a goods ______ negative income elasticity and positive price elasticity of demand, then the good is-
- An inferior goods
- Normal goods
- Superior goods
- Giffen goods
Q.77)-The Price discrimination is helpful when.
- Demand elasticity for two market is different
- Demand elasticity for two market is same
- Supply elasticity for two market is different
- Supply elasticity for two market is same
Q.78)-Discuss about giffen and inferior good.
- Inferior goods are also giffen
- Giffen goods are also Inferior goods
- Inferior goods should not be giffen
- Giffen goods should not be giffen
Q.79)-Elasticity expressed by formula 1>e>o is-
- Perfectly elastic
- Relatively elastic
- Perfectly inelastic
- Relatively inealstic
Q.80)-When percent change in demand for a commodity is les than percentage change in its price, than demand is said to be-
- Highly elastic
- Inealastic
- Relatively elastic
- Perfectly inelastic