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When the price of good rise from Rs 10 per unit to Rs 12 per unit, its quantity demanded falls by 20 percent. Calculate its price elasticity of demand. How much would be the percentage change in its quantity demanded, if the price rises from Rs 10 per unit to Rs 13 per unit? - CBSE Economics class 12 20171 AnswerWhen price of a commodity X falls by 10 per cent. Its demand rises from 150 units to 180 units. Calculate is price elasticity of demand. How much should be the percentage fall in its price so that its demand rises from 150 to 210 units? 1 AnswerDemand for a good is termed inelastic through the expenditure approach when if (choose the correct alternative) - CBSE Economics class 12 20171 AnswerA producer supplies 80 units of a good at a price of Rs 10 per unit. Price elasticity of supply is 4. How much will he supply at Rs 9 per unit? - CBSE Class 12 Economics 20161 AnswerAs we move along a downward sloping straight line demand curve from left to right, price elasticity of demand : (choose the correct alternative) - CBSE Economics class 12 20171 AnswerAny statement above demand for a good is considered complete only when the following is/are mentioned in it. ( choose the correct alternative) - CBSE Economics class 12 20171 AnswerAny statement above demand for a good is considered complete only when the following is/are mentioned in it. ( choose the correct alternative) - CBSE Economics class 12 20171 AnswerGood Y is a substitute of good X. The price of Y falls. Explain the chain of effects of this change in the market of X.1 AnswerDistinguish between ‘increase in demand’ and increase in quantity demanded ‘of a good. - CBSE Economics class 12 20171 AnswerWhy does the demand for foreign currency fall and supply rises when its price rises? Explain. - CBSE Economics class 12 20171 AnswerOne unit of product P1 requires 3 kg of resource R1 and 1kg of resourceR2 . -gate-mechanical-20111 AnswerPrice elasticity of demand of goods X is —2 and goods Y is —3. Which of the two goods is more price elastic and why? - CBSE Class 12 Economics 20161 AnswerUnderline the words where you get a zzzzz sound. (CBSE ENGLISH CLASS 5)1 AnswerMarginal cost refers to: -CBSE Economics Class 101 AnswerGiven below is the cost schedule of a product produced by a firm. The market price per unit of the product at all levels of output is Rs12. Using marginal cost and marginal revenue approach, find out the level of equilibrium output. Give reasons for your answer:1 AnswerExplain the geometric method of measuring price elasticity of supply. Use diagram.1 AnswerThe demand of a commodity when measured through the expenditure approach is inelastic. A fall in its price will result in : (choose the correct alternative) - CBSE Economics class 12 - 20171 AnswerShow that demand of a commodity is inversely related to its price. Explain with the help of utility analysis.1 AnswerExplain the chain effects, if the prevailing market price is below the equilibrium price. - CBSE Class 12 Economics 20161 AnswerExplain the chain of effects of excess supply of a good on its equilibrium price.1 Answer