Which one of the following is NOT intermediate good?
A) Paddy
B) Idli
C) Husk
D) Rice
1 Answers
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Price elasticity of demand of a good is (-) 2. At a price of Rs. 10 per unit 40 units of this good are bought . How units will be bought at a price of
`E_(P)=(P)/(Q)xx(DeltaQ)/(DeltaP)` `(-)2=(10)/(40)xx(DeltaQ)/(1)` `(-)80=10DeltaQ` `DeltaQ=-8` New `Q=Q+DeltaQ=40+(-8)=32` units.
2 Answers 1 views
Price elasticity of demand of a good is (-) 1. At a given price the consumer buys 60 units of the good . How many units will the consumer buy if the p
`E_(P)=(% "change in " Q_(d))/(% " change in P")` `(-)1 =(% " change in " Q_(d))/(-10%)` `:.% "change in " Q_(d)=+10%`. Demand after price falls `=Q+10% " of " Q=60+...
2 Answers 1 views
Price elasticity of demand of a good is (-)2. The consumer buys a certain quantity of this good at a price of Rs. 8 per unit . When the price falls he
`E_(P)=(% "change in " Q_(d))/(% " change in P")` `(-)2=(50%)/(% " change in P")` `%` Change in P `=(50)/(-2)=-25%` New `P=P+%` change in P `=8+(-25% " change of " 8)...
2 Answers 1 views
When price of a good is Rs. 13 per units , the consumer buys 11 units of that good . When price rises to Rs. 15 per unit , the consumer continues to b
`E_(P)=(P)/(Q)xx(DeltaQ)/(DeltaP)=(13)/(11)xx(0)/(2)=0`
2 Answers 1 views
When price of a good is Rs. 7 per unit a consumer busy 12 units . When price fails to Rs. 6 per unit he spends Rs. 72 on the good . Calculate price el
`{:(" Price"," Demand"),(" " 7," "12),(" "6," "(72)/(6)=12):}` `E_(P)=(P)/(Q)xx(DeltaQ)/(DeltaP)` `=(7)/(12)xx(0)/(-1)=0` The demand curve is parallel to the y- axis.
2 Answers 1 views
A consumer consumes only two goods A and B and is in equilicbrium . Price of good a falls . Show that it will lead to rise in dmand for good A . Use U
When consumer is in equilibrium : `(MU_(A))/(P_(A))=(MU_(B))/(P_B)` When price of good A `(P_(A))` falls , then `(MU_(A))/(P_(A))gt(MU_(B))/(P_B)` Since per rupee marginal utility of A `(MU_(A))` is now higher than per...
2 Answers 1 views
Price elasticity of supply of a good is 5 . A producer sells units 500 units of this good at Rs.5 per unit . How much will be willing to sell at Rs. 6
`E_(s)=(P)/(Q)xx(DeltaQ)/(DeltaP)` `5=(5)/(500)xx(DeltaQ)/(1)` `DeltaQ=500` New `Q=Q+DeltaQ=500+500=1000` units
2 Answers 6 views
Which among the following are final and which are intermediate products? (i) A machine purchased for installation in a factory (ii) Fees paid to the l
(i) A machine purchased for installation in a factory is a final product because expenditure on machine is investment expenditure. (ii) Fees paid to the lawyer by a producer is...
2 Answers 1 views
`E_(P)` of a good is -3 . At a price of Rs. 8 per unit a consumer busy 160 units of the good . How many units of the good will the consumer buy when p
Correct Answer - 280 units
2 Answers 1 views
Example for an intermediate good A) Car
C) Bamboo wood
2 Answers 1 views