Explain any three factors affecting the 'Price elasticity of demand'. |
or |
What do you understand by price elasticity of demand? How does the level of price of a good affect its Elasticity of Demand\[({{E}_{d}})\] ? |
Output (units)(Q) | Total Revenue (TR)(Rs.) | Marginal Revenue (MR)(Rs.) | Average Revenue (AR)(Rs.) |
1 | - | - | 8 |
2 | - | 4 | - |
3 | 12 | - | - |
4 | 8 | - | 2 |
Output (Units) | Total Cost (Rs.) |
1 | 23 |
2 | 27 |
3 | 30 |
(i) If X and Y are complementary goods. |
(ii) If X and Y are substitute goods. |
Income (Y) | Consumption [C] | Marginal Propensity To Save (MPS) | Average Propensity to Consume (APC) |
0 | 15 | - | - |
50 | 50 | - | - |
100 | 85 | - | - |
150 | 120 | - | - |
S. No. | items | (Rs.) in lakhs |
(i) | Total Sales | 8,000 |
(ii) | Closing Stock | 1,400 |
(iii) | Opening Stock | 1,000 |
(iv) | Indirect Taxes | 400 |
(v) | Subsidies | 300 |
(vi) | Depreciation | 600 |
(vii) | Purchase of Raw Material from Other Firms | 2,000 |
(i) Banker to the government |
(ii) Controller of money supply using the instrument of open market operations. |
Name and explain the various types of factor income |
or |
From the following data, calculate the Net National Product at Market Price\[(NN{{P}_{Mp}})\]by |
(i) Expenditure method |
(ii) Income method |
S. No. | Items | (Rs.) in crores |
(i) | Personal Consumption Expenditure | 700 |
(ii) | Wages and Salaries | 700 |
(iii) | Gross Business Fixed Investment | 60 |
(iv) | Gross Residential Construction Investment | 60 |
(v) | Inventory Investment | 20 |
(vi) | Profits | 100 |
(vii) | Government Final Consumption Expenditure | 200 |
(viii) | Rent | 50 |
(ix) | Exports | 40 |
(x) | Imports | 20 |
(xi) | Interest | 40 |
(xii) | Net Factor Income from Abroad | \[(-)\]10 |
(xiii) | Depreciation | 20 |
(xiv) | Subsidies | 10 |
(xv) | Indirect Taxes | 20 |
(xvi) | Mixed Income of Self -employed | 140 |
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