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Suppose the value of demand and supply curves of a Commodity-X is given by the following two equations simultaneously:

Qd = 200 –10p Qs = 50 + 15p

i) Find the equilibrium price and equilibrium quantity of commodity X.

ii) Suppose that the price of a factor inputs used in producing the commodity has changed, resulting in the new supply curve given by the equation

Qs’ = 100 + 15p

Analyse the new equilibrium price and new equilibrium quantity as against the original equilibrium price and equilibrium quantity.

P draws on Q three bills of exchange for Rs. 15,000, Rs. 12,000 and Rs. 9,000 respectively for goods sold to him on 1st February, 2016. These bills were for 1 month, 2 months and 3 months, respectively. The first bill was endorsed to his creditor R. The second bill was discounted with his bank on 4th February, 2016 12% per annum and the third bill was sent to his bank for collection on 30th April. On the due dates, all the bills were duly met by Q. The bank sent the collection advice for the third bill after deducting Rs. 75 as collection charges. Pass the journal entries in the books of P and Q.

Explain price elasticity of demand.

The graph shows relationship b/w Amount of water required( thousand litres) to produce grains(Kg).Linear Equation representing this relationship is

Explain the role of small scale industries in rural areas.

What do you mean by ‘Internal Trade’ ? What are its two types ?

If the output elasticities of all inputs used by a firm are summed together, then the total

If a computer manufacturing company introduces a new model and finds that orders from wholesalers far exceed the number of units that are being produced,

Market demand and supply schedules of mangoes (per day) are given by
$\begin{array}{cccccc}Price\left(perkg\right)& 9& 7& 5& 3& 1\\ Qd\left(inkg\right)& 4& 6& 8& 10& 12\\ Qs\left(inkg\right)& 14& 11& 8& 5& 2\end{array}$
Determine: (i) Equilibrium price and equilibrium quantity (ii) Excess demand at Rs. 3 per kg (iii) Excess supply at Rs. 7 per kg.

The profit-maximizing condition for a monopoly firm is ________.

What prevents a perfectly competitive firm to lower the product price and capture the entire market?

Considering
the same demand curve as in exercise 22, now let us allow for free
entry and exit of the firms producing commodity X. Also assume the
market consists of identical firms producing commodity X. Let the
supply curve of a single firm be explained as

q^S_f = 8 + 3p for p ≥ 20

= 0 for 0 ≤ p < 20

(a) What
is the significance of p = 20?

(b) At what price will the market for X be in equilibrium? State the
reason for your answer.

(c)
Calculate the equilibrium quantity and number of firms.

Give reasons for the slow growth and re-emergence of poverty in Pakistan.

Which of the following pairs represent substitute goods?

People continue to buy Apple products (phones, laptops etc) despite cheaper alternatives which have more features. Why?

Which
of the following arguments could be used to justify state action to
provide basic minimum conditions of life to all citizens?

(a)
Providing free services to the poor and needy can be justified as an
act of charity.

(b)
Providing all citizens with a basic minimum standard of living is one
way of ensuring equality of opportunity.

(c)
Some people are naturally lazy and we should be kind to them.

(d)
Ensuring basic facilities and a minimum standard of living to all is
a recognition of our shared humanity and a human right.

Which of the following is an example of an oligopoly market with homogeneous products?

A simple pendulum with length l and bob of mass m is executing S.H.M of small amplitude a. The expression for maximum tension in the string will be

Comment on the growth rate trends witnessed in China and India in the last two decades.

When does
a production function satisfy decreasing returns to scale?

A critical component of the United Nations' 2030 agenda for Sustainable Development Goals is health for all. In this context consider the following statements:

Identify the correct statement(s) about microeconomics.

For a monopoly firm, which of the following is equal to market price?

Telecom operators get revenue from transfer of data and voice. Average revenue received from transfer of each unit of data is called ARDT. In the diagram below, the revenue received from data transfer as percentage of total revenue received and the ARDT in US Dollars (USD) are given for various countries.

It was found that the volume of data transfer in India is the same as that of Singapore. Then which of the following is true?

What factors lead to a rightward shift of the PPC?

Or

What does a rightward (or an outward) shift of the production possibility curve indicate?

In the Critical Path Method (CPM), the cost-time slope of an activity is given by

How is the
optimal amount of labour determined in a perfectly competitive
market?

Who was the architect of the second plan?

Nutritional level of food energy is expressed in the form of:

The efficient scale of production is the quantity of output that minimizes the ___ .

China’s rapid industrial growth can be traced back to its reforms in 1978. Do you agree? Elucidate.

The total cost of production at different output levels for a firm are tabulated below. What is the profit-maximizing level of output at a market price of Rs 10?

$\begin{array}{cc}Q& TC\left(Rs\right)\\ 1& 15\\ 2& 22\\ 3& 27\\ 4& 31\\ 5& 38\\ 6& 49\\ 7& 63\end{array}$

Assuming that the Planning Commission had not written anything more on JGY than what has been quoted by the author, which of the following could be considered as weakness in the theoretical posturing of the Planning Commission?

I. The quote does not explain how steady but rationed power is better than erratic 24-hour supply

II. The quote does not mention any evidence to prove that over drawl of ground water reduced as a consequence of this power sector reform

III.Power subsidies got reduced as a result of the reform without hurting livelihood of the farmers