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