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A set of goods carrier that consists of 100 carrier boxes costs Rs.1040. After price change, it costs Rs. 1249. The quantity of goods carrier purchased before price change and after price change are 100 and 125. Find price elasticity of demand.

Correct Answer: 1.21
Given, Q1 = 100 Q2 = 125 P1 = Rs. 1040 P2 = Rs. 1249 Then price elasticity of demand is given as E = ((Q2 – Q1) / (Q1 + Q2)) / ((P2 – P1) / (P2 + P1)) = ((125 – 100) / (125 + 100)) / ((1249 – 1040) / ((1249 + 1040)) = (25 / 225) / (209 / 2289) = 0.111 / 0.091 = 1.219

A man sells chocolates which are in the boxes. Only either full box or half a box of chocolates can be purchased from him. A customer comes and buys half the number of boxes which the seller had plus half box more. A second customer comes and purchases half the remaining number of boxes plus half a box. After this the seller is left with no chocolate boxes. How many chocolate boxes the seller had initially?

Statement I Point price elasticity of demand in terms of marginal and average revenues can be measured with the following formula $$\frac{{AR}}{{AR - MR}}.$$
Statement II The point price elasticity of demand is the product of the slope of the demand function and the ratio between corresponding price and quantity.

Income elasticity of demand is the percentage change in quantity demanded divided by the percentage change in income. Which type of goods have negative income elasticity of demand?

There are 5 different-colored boxes in a room each with a distinct cover. Find out the number of ways so that these covers can be put on the boxes such that none of the boxes can have right covers on it? (Assume that all the covers must be on the boxes).

Directions: Seven different boxes A, B, C, D, E, F and G of different colours viz., Orange, Pink, Purple, Yellow, Blue, Red and Green are arranged one above the other. The box at the bottom of arrangement is numbered 1, the above box is numbered 2 and so on. B is immediately above E. More than two boxes are above the Orange box. The Yellow box is immediately below A. Only one box is between the Orange box and F. G is immediately above the Red box. Only one box is between B and the Pink box. Only two boxes are between the Pink and the Green box. Only two boxes are between the Yellow box and the Orange box. The Purple box is neither at the top nor at the bottom of the arrangement.B is above Pink box. C is immediately above F. Neither C nor G is a Yellow box. G is not a Orange box. Question: Which combination represents the position of C and its colour?

Kelly and Chris packed several boxes with books. If Chris packed 60 percent of the total number of boxes, what was the ratio of the number of boxes Kelly packed to the number of boxes Chris packed?

A bakery sells cookies in three boxes. The three boxes contain 60, 84 and 108 number of cookies. The baker wants to sells all the cookies in any of the three boxes. The least number of cookies that he can bake, in a day, so that he is able to sell all his cookies in any of the three boxes is _______

Each question contains Quantity I and Quantity II. Read the contents clearly and answer your questions accordingly. Quantity I: if the length of a rectangle is increased by 20% while the breadth of the rectangle is decreased by 10% then find percentage change in area of the rectangle? Quantity II: if the side of a triangle is increased by 30% while the height of a triangle is decreased by 20% then find the percentage change in area of the triangle?

Each question contains Quantity I and Quantity II. Read the contents clearly and answer your questions accordingly. Quantity I: 3 years ago the ratio of age of A and B is 3: 4 after 2 years the sum of their ages is 45. Then find the present age of A? Quantity II: 5 years ago, the ratio of age of p and Q id 3: 4 Ps age after 6 years is equal to the present age of Q. the find the present age of P?

Which of the following could provide an example of exceptional demand curves?
1. Demand for "Giffen goods"
2. Demand based on fears of a future rise in prices
3. Demand for second-hand clothes
4. Demand for daily newspapers
Select the right answer: