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You are a producer of instant noodles, and your research department has reported the price elasticity of demand for your product in the market is 0.5. You decide to increase the price from Rs. 10 to Rs. 12. What will be the new quantity demanded, which is currently 100,000 units?
1) Suppose that the market demand for Blue band is a straight line of the form Q = 300-50p where Q is the quantity bought in thousands of boxes per week and P is the price per box in.
If supply is inelastic will shift in demand have larger effect on equilibrium price or quantity??
If demand is elastic,will shifts in supply have a largereffect on equilibrium quantity or on price??
Wages of workers who pick coffee rose.At the same time the price of half and half decreases.How these events effect the market equilibrium price and quantity
Explain the law of deminshimg marginal utility with the help of a table and diagram
If the cross elasticity of demand between X and Y is negative, then are X and Y
substitutes or complements? Explain your answer.
What is a Pareto superior allocation? When is an allocation said to be Pareto improving? At what point is Pareto Efficiency reached. What is a Pareto superior allocation? When is an allocation said to be Pareto improving? At what point is Pareto Efficiency reached.
Assume that you are an enterpreneur of a hotel what are the fixed and variable costs to be carried out in that business
Discuss the main features of the Ricardian Theory of Rent. How do these contrast with the Modern Theory of Rent?
