What is Perfectly Elastic Supply? When price falls by Rs.2 per unit, supply falls from 100 units to 80 units. Price elasticity of supply is 2. What was the price per unit before change? Calculate.
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When the price of goods rises from Rs.10 per unit to Rs.12 per unit, its quantity demanded falls by 20 percent.
Given. Percentage fall in demand = 20 Initial Price= Rs.10 New Price =Rs.12 % Increase in Price=2/10x100=20% We know, Ed=% Change in Denrand / % Change in Price =-20/20=-1 Now, if price rises from 10 to 13 % Change...
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When the price of a good falls from Rs.10 to Rs.8 per unit, its demand rises from 20 units to 24 units.
Given P = 10, P2 = 8, Q = 20, Q1 = 24 Total Expenditure Method P Q Total Expenditure 10 20 200 8 24 192 As with the fall in price...
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When the price of a good rises from Rs.10 to RS.12 per unit, its demand falls from 25 units to 20 units.
Given, P = 10, P1 = 12, Q = 25, Q1 = 20 Total Expenditure Method P Q Total Expenditure (P x Q) 10 25 250 12 20 240 Since with rise...
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A consumer buys 27 units of a good at a price Rs.10 per unit. When the price falls to Rs.9 per unit, the demand rises 27 to 30 units.
Given Q= 27, P = 10, P1 = 9, Q1 = 30 Total Expenditure Method P Q Total Expenditure (P x Q) 10 27 270 9 30 270 Since, with the fall in...
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Price of a product falls from Rs.10 to Rs.9 per unit. As a result, its demand rises from 9 units to 10 units.
Given P = 10, P1 = 9, Q = 9, Q1 = 10 Total Expenditure P Q Total Expenditure (P xQ) 10 9 90 9 10 90 Since total expenditure is constant, elasticity...
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When price of a good falls from Rs. per unit to Rs.7 per unit, its demand rises from 12 units to 16 units.
Price (Rs.) Quantity (Units) TE (Rs.) 8 12 96 7 16 112 Price decreases and TE increases. It shows inverse relationship between price and total expenditure. So, there is elastic demand or greater than unitary elastic demand.
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A consumer buys 10 units of a good at a price of Rs.9 per unit. At price of Rs.10 per unit, he buys 9 units.
Quantity (Units) Price (Rs.) TE (P x Q) (Rs.) 10 9 90 9 10 90 As per the expenditure approach, when with a change in price, the total expenditure remains unchanged, demand is unitary elastic (eD= 1). The shape...
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A consumer buys 8 units of a good at a price Rs.7 per unit. When price rises to Rs.8 per unit, he buys 7 units.
Quantity (Units) Price (Rs.) TE (Rs.) 8 7 56 7 8 56 As per the expenditure approach, when with a change in price, the total expenditure remains unchanged, demand is unitary elastic (eD, = 1) The shape of demand...
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How is equilibrium price affected when demand is perfectly elastic and supply increases?
Equilibrium price will remain unchanged.
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If the unit of force is 100 N, unit of length is 10 m and unit of time is 100 s, what is the unit of mass in this system of units?
The unit of mass in this system of units- 105 kg
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