Search & Filtering
7. Consider this simplified sequence: A farmer starts with a unit of wheat and sells it to a
miller for 20 cents. The miller grinds it into flour and sells it to a baker for 50 cents. The
baker converts all the flour into a loaf of bread and sells it to a grocer for $2.00. The grocer
then sells that bread to a customer for $3.35.
a) What is the total value added by the grocer?
b) What is the total value added by all these stages of production?
c) How much does GDP increase?
Environmental sustainability and it's pillars
The market for pencils is in equilibrium. If the price of pens (a substitute for pencils) increases the impact on the market for pencils will be ___________ in equilibrium price and __________ in equilibrium quantity.
If the demand for motor vehicles decreases due to a drop in consumer income and at the same time increases in factor prices cause the supply of motor vehicles to decrease, the prices of motor vehicles will
Calculating the MRS of Hay(X2) for Grain (X1)
Find average wage rate from the data given below:
Wage rate (Rs.)
Less than 20
20-40
40-60
60-80
More than 80
no. of workers
4
6
5
3
2
Following schedule gives marks obtained by students in statistics in a class. Find out mean marks using short cut method.
Mid-values
5
10
15
20
25
30
No. of students
5
7
9
10
8
6
Calculate mean from the following data using short cut method:
Marks
Less than 10
Less than 20
Less than 30
Less than 40
Less than 50
no of students
7
18
25
35
50
Find out arithmetic mean by short cut and step deviation method:
Sales (Rs. Lakhs)
0-10
10-20
20-30
30-40
40-50
50-60
No. of firms
12
18
27
20
17
6
Calculate the arithmetic mean from the following series by direct method:
Marks
5-15
15-25
25-35
35-45
45-55
No. of students
8
12
15
9
6
