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This section includes InterviewSolutions, each offering curated multiple-choice questions to sharpen your Class 11 knowledge and support exam preparation. Choose a topic below to get started.
| 6551. |
Given values of elasticities of demand , spot ' elastic' demand : |
| Answer» <html><body><p>`-0.8`<br/>`-0.9`<br/>`-1.0`<br/>`-<a href="https://interviewquestions.tuteehub.com/tag/11-267621" style="font-weight:bold;" target="_blank" title="Click to know more about 11">11</a>`</p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :d</body></html> | |
| 6552. |
Distinguish between:(i)Variable factors and fixed factors(ii) Short run and long run |
| Answer» <html><body><p></p>Solution :(i) Variable factors are the factors of production which vary with the level of <a href="https://interviewquestions.tuteehub.com/tag/output-1142821" style="font-weight:bold;" target="_blank" title="Click to know more about OUTPUT">OUTPUT</a>. For example, Labour and Raw material.<br/>Fixed factors are the factors which remain fixed throughout the production <a href="https://interviewquestions.tuteehub.com/tag/process-11618" style="font-weight:bold;" target="_blank" title="Click to know more about PROCESS">PROCESS</a>. For example, <a href="https://interviewquestions.tuteehub.com/tag/land-539118" style="font-weight:bold;" target="_blank" title="Click to know more about LAND">LAND</a> and Machinery.<br/>(ii) Short <a href="https://interviewquestions.tuteehub.com/tag/run-1192138" style="font-weight:bold;" target="_blank" title="Click to know more about RUN">RUN</a> is a <a href="https://interviewquestions.tuteehub.com/tag/time-19467" style="font-weight:bold;" target="_blank" title="Click to know more about TIME">TIME</a> period where some factors of production are fixed and some are variable whereas long run is a time period wherein all the factors of production are variable.</body></html> | |
| 6553. |
A consumer consumes only two goods X and Y whose price are Rs 4 and Rs 5 per unit respectively. If the consumer choose a combination of the two goods with marginal utility of X equal to 5 and that of Y equal to 4, is the consumer in equilibrium ? Give reasons. what will a rational consumer do in this situation ? Use utility analysis. |
| Answer» <html><body><p></p>Solution :Given `P_(x) = 4, P_(y) = 5 " and " MU_(x) = 5, MU_(y) = 4`. A consumer will be in equilibrium when `(MU_(x))/(P_(x)) = (MU_(y))/(P_(y))` <br/> Substituting values, we find that: <br/> `(5)/(4) gt (4)/(5) " or " (MU_(x))/(P_(x)) gt (MU_(y))/(P_(y))` <br/> Since per <a href="https://interviewquestions.tuteehub.com/tag/rupee-1192322" style="font-weight:bold;" target="_blank" title="Click to know more about RUPEE">RUPEE</a> `MU_(x)` is higher than per rupee `MU_(y)`, consumer is not in equilibrium. <br/> The consumer will buy more of `x` and less of `y`. As a <a href="https://interviewquestions.tuteehub.com/tag/result-1187343" style="font-weight:bold;" target="_blank" title="Click to know more about RESULT">RESULT</a> `MU_(x)` will fall and `MU_(y)` will rise. The <a href="https://interviewquestions.tuteehub.com/tag/reaction-22747" style="font-weight:bold;" target="_blank" title="Click to know more about REACTION">REACTION</a> will <a href="https://interviewquestions.tuteehub.com/tag/continue-409821" style="font-weight:bold;" target="_blank" title="Click to know more about CONTINUE">CONTINUE</a> <a href="https://interviewquestions.tuteehub.com/tag/till-709848" style="font-weight:bold;" target="_blank" title="Click to know more about TILL">TILL</a> `(MU_(x))/(P_(x)) " and " (MU_(y))/(P_(y))` are equal and consumer is in equilibrium.</body></html> | |
| 6554. |
How does the nature of a commodity influence its price elasticity of demand. |
| Answer» <html><body><p></p>Solution :i. When a commodity is a necessity like food grains, vegetables, <a href="https://interviewquestions.tuteehub.com/tag/medicines-1092667" style="font-weight:bold;" target="_blank" title="Click to know more about MEDICINES">MEDICINES</a>, etc., its demand is generally inelastic as it is required for human survival and its demand does not fluctuate much with <a href="https://interviewquestions.tuteehub.com/tag/change-913808" style="font-weight:bold;" target="_blank" title="Click to know more about CHANGE">CHANGE</a> in price.<br/>ii. When a commodity is a comfort like <a href="https://interviewquestions.tuteehub.com/tag/fan-456390" style="font-weight:bold;" target="_blank" title="Click to know more about FAN">FAN</a>, refrigerator, etc., its demand is generally elastic as consumer can postpone it.<br/> (iii) When a commodity is a luxury like AC, DVD player, etc., its demand is generally more elastic as compared to demand for comforts.<br/>iv. The term ‘luxury’ is a relative term as any item (like AC), may be a luxury for a <a href="https://interviewquestions.tuteehub.com/tag/poor-602678" style="font-weight:bold;" target="_blank" title="Click to know more about POOR">POOR</a> person but a necessity for a <a href="https://interviewquestions.tuteehub.com/tag/rich-614275" style="font-weight:bold;" target="_blank" title="Click to know more about RICH">RICH</a> person. consumption.<br/></body></html> | |
| 6555. |
Calculate arithmetic mean of the following frequency distribution: {:("Class","less than 10",10-20,20-30,30-40,40-50,50-60,"more than 60"),("Frequency",""5," "12," "18," "22," "6," "4,""3):} |
| Answer» <html><body><p><br/></p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :<a href="https://interviewquestions.tuteehub.com/tag/arithmetic-15417" style="font-weight:bold;" target="_blank" title="Click to know more about ARITHMETIC">ARITHMETIC</a> <a href="https://interviewquestions.tuteehub.com/tag/mean-1091459" style="font-weight:bold;" target="_blank" title="Click to know more about MEAN">MEAN</a> = <a href="https://interviewquestions.tuteehub.com/tag/30-304807" style="font-weight:bold;" target="_blank" title="Click to know more about 30">30</a>. <a href="https://interviewquestions.tuteehub.com/tag/14-272882" style="font-weight:bold;" target="_blank" title="Click to know more about 14">14</a></body></html> | |
| 6556. |
Distinguish between : (i) Movement along supply curve and Shift in supply curve (ii) Change in supplied and Change in supply (iii) Contraction in supply and Decrease in supply (iii) constraction in supply and Decrease in supply (iv) Expansion in supply and Increase in supply (v) Individual supply and Market Supply (vi) Individual Supply Curve and Market Supply Curve |
| Answer» | |
| 6557. |
Assumed mean is taken in which method? |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/direct-954477" style="font-weight:bold;" target="_blank" title="Click to know more about DIRECT">DIRECT</a> method<br/>Step-deviation method<br/>Karl <a href="https://interviewquestions.tuteehub.com/tag/pearson-2918977" style="font-weight:bold;" target="_blank" title="Click to know more about PEARSON">PEARSON</a>'s method<br/>Spearman's method</p>Answer :<a href="https://interviewquestions.tuteehub.com/tag/b-387190" style="font-weight:bold;" target="_blank" title="Click to know more about B">B</a></body></html> | |
| 6558. |
What are the factors affecting elasticity of supply? |
| Answer» <html><body><p></p>Solution :The factors <a href="https://interviewquestions.tuteehub.com/tag/affecting-1969559" style="font-weight:bold;" target="_blank" title="Click to know more about AFFECTING">AFFECTING</a> elasticity of <a href="https://interviewquestions.tuteehub.com/tag/supply-1235254" style="font-weight:bold;" target="_blank" title="Click to know more about SUPPLY">SUPPLY</a> are <a href="https://interviewquestions.tuteehub.com/tag/ltbr-2804405" style="font-weight:bold;" target="_blank" title="Click to know more about LTBR">LTBR</a>. (i) Nature of the commodity. <br/> (<a href="https://interviewquestions.tuteehub.com/tag/ii-1036832" style="font-weight:bold;" target="_blank" title="Click to know more about II">II</a>) Cost of production. ltbr. (iii) <a href="https://interviewquestions.tuteehub.com/tag/time-19467" style="font-weight:bold;" target="_blank" title="Click to know more about TIME">TIME</a> period. <br/> (iv) Techniques of production. <br/> (v) Nature of the inputs used. <br/> (vi) Natural constrains.</body></html> | |
| 6559. |
Highly elastic negatively sloped demand curve is related to |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/perfect-1150611" style="font-weight:bold;" target="_blank" title="Click to know more about PERFECT">PERFECT</a> competition<br/>Monopolistic Competition<br/>Both (a) and (<a href="https://interviewquestions.tuteehub.com/tag/b-387190" style="font-weight:bold;" target="_blank" title="Click to know more about B">B</a>)<br/><a href="https://interviewquestions.tuteehub.com/tag/none-580659" style="font-weight:bold;" target="_blank" title="Click to know more about NONE">NONE</a> of these</p>Solution :N/a</body></html> | |
| 6560. |
Find out quartile deviation and coefficient of quartile deviation of the following series: 28,18,20,24,30,15,47,27 |
| Answer» <html><body><p><br/></p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :QD=5.5, <a href="https://interviewquestions.tuteehub.com/tag/coefficient-920926" style="font-weight:bold;" target="_blank" title="Click to know more about COEFFICIENT">COEFFICIENT</a> of QD=0.23</body></html> | |
| 6561. |
How will a decrease in the prive of the pen affect the demand of ink? |
| Answer» <html><body><p></p>Solution :Since these are <a href="https://interviewquestions.tuteehub.com/tag/complementary-2532127" style="font-weight:bold;" target="_blank" title="Click to know more about COMPLEMENTARY">COMPLEMENTARY</a> goods, with <a href="https://interviewquestions.tuteehub.com/tag/decrease-946104" style="font-weight:bold;" target="_blank" title="Click to know more about DECREASE">DECREASE</a> in price of pen, demand of ink will increase because consumer will demand more of pens due to <a href="https://interviewquestions.tuteehub.com/tag/fall-983217" style="font-weight:bold;" target="_blank" title="Click to know more about FALL">FALL</a> in price of pens. There will be rightward shift in demand curve of ink from <a href="https://interviewquestions.tuteehub.com/tag/dd-431195" style="font-weight:bold;" target="_blank" title="Click to know more about DD">DD</a> - `D_(1)D_(1)`. There is rightward shift in demand curve of ink due to decrease in price of pens. <br/> <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/MIC_ECO_XI_U02_C03_E01_039_S01.png" width="80%"/></body></html> | |
| 6562. |
How is the demand for a good affected by a rise in the prices of other goods ? Explain OR Does a rise of other good have same effect on demand for a commondity ? |
| Answer» <html><body><p></p>Solution :No, <a href="https://interviewquestions.tuteehub.com/tag/rise-1189674" style="font-weight:bold;" target="_blank" title="Click to know more about RISE">RISE</a> in prices of other goods does not have same effect on demand for a commodity. <br/> (i) In <a href="https://interviewquestions.tuteehub.com/tag/case-910082" style="font-weight:bold;" target="_blank" title="Click to know more about CASE">CASE</a> of rise in price of substitude goods, demand for the <a href="https://interviewquestions.tuteehub.com/tag/given-473447" style="font-weight:bold;" target="_blank" title="Click to know more about GIVEN">GIVEN</a> commodity rises <br/> (ii) In case of rise in price of complementary goods, demand for the given commodity falls. <br/> (iii) In case of rise in price of <a href="https://interviewquestions.tuteehub.com/tag/unrelated-7334048" style="font-weight:bold;" target="_blank" title="Click to know more about UNRELATED">UNRELATED</a> goods, there is no change in demand for the given commodity.</body></html> | |
| 6563. |
If one burger gives you satisfaction of 15 utils and 2 burgers generate total satisfaction of 25 utils, then caculate the marginal utility of second burger. |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<a href="https://interviewquestions.tuteehub.com/tag/10-261113" style="font-weight:bold;" target="_blank" title="Click to know more about 10">10</a> <a href="https://interviewquestions.tuteehub.com/tag/utils-3253191" style="font-weight:bold;" target="_blank" title="Click to know more about UTILS">UTILS</a>.</body></html> | |
| 6564. |
What is theprice elasticityof supplymean ? How dowe measureit ? |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> Elasticityof supply means <a href="https://interviewquestions.tuteehub.com/tag/thedegree-1403527" style="font-weight:bold;" target="_blank" title="Click to know more about THEDEGREE">THEDEGREE</a> of responsiveness ofsupplyfor a commditywithreferenceto changein <a href="https://interviewquestions.tuteehub.com/tag/theprice-1410305" style="font-weight:bold;" target="_blank" title="Click to know more about THEPRICE">THEPRICE</a> of suchcommodity.It is measuredas :<br/>Price Elasticity of Supply `E_(s)) = (" Percentage change in QuantitySupplied ")/(" Percntage change in Price")`</body></html> | |
| 6565. |
What happens to the demand of a good when consumer's income change ? |
| Answer» <html><body><p></p>Solution :If the good is a <a href="https://interviewquestions.tuteehub.com/tag/normal-1123860" style="font-weight:bold;" target="_blank" title="Click to know more about NORMAL">NORMAL</a> good, then an increase in income of the consumer leads to an increase in <a href="https://interviewquestions.tuteehub.com/tag/demand-436956" style="font-weight:bold;" target="_blank" title="Click to know more about DEMAND">DEMAND</a> of the commodity and vice-versa <a href="https://interviewquestions.tuteehub.com/tag/whereas-2326610" style="font-weight:bold;" target="_blank" title="Click to know more about WHEREAS">WHEREAS</a> if the good is an <a href="https://interviewquestions.tuteehub.com/tag/inferior-515744" style="font-weight:bold;" target="_blank" title="Click to know more about INFERIOR">INFERIOR</a> good an increase income of the consumer leads to a <a href="https://interviewquestions.tuteehub.com/tag/decrease-946104" style="font-weight:bold;" target="_blank" title="Click to know more about DECREASE">DECREASE</a> in demand of the commodity and vice-versa.</body></html> | |
| 6566. |
What is perfect oligopoly? |
| Answer» <html><body><p></p>Solution :If in an <a href="https://interviewquestions.tuteehub.com/tag/oligopoly-585440" style="font-weight:bold;" target="_blank" title="Click to know more about OLIGOPOLY">OLIGOPOLY</a> market, the firms <a href="https://interviewquestions.tuteehub.com/tag/produce-1167752" style="font-weight:bold;" target="_blank" title="Click to know more about PRODUCE">PRODUCE</a> <a href="https://interviewquestions.tuteehub.com/tag/homogenous-1028795" style="font-weight:bold;" target="_blank" title="Click to know more about HOMOGENOUS">HOMOGENOUS</a> <a href="https://interviewquestions.tuteehub.com/tag/products-18828" style="font-weight:bold;" target="_blank" title="Click to know more about PRODUCTS">PRODUCTS</a>, it is called oligopoly,</body></html> | |
| 6567. |
Will the monopolist firm continue to produce in the short run if a loss is incurred at the best short run level of output ? |
| Answer» <html><body><p></p>Solution :If the monopolist cirm <a href="https://interviewquestions.tuteehub.com/tag/incurs-1040997" style="font-weight:bold;" target="_blank" title="Click to know more about INCURS">INCURS</a> <a href="https://interviewquestions.tuteehub.com/tag/loss-1079380" style="font-weight:bold;" target="_blank" title="Click to know more about LOSS">LOSS</a> in the short run, then it will <a href="https://interviewquestions.tuteehub.com/tag/stop-1228105" style="font-weight:bold;" target="_blank" title="Click to know more about STOP">STOP</a> <a href="https://interviewquestions.tuteehub.com/tag/production-14556" style="font-weight:bold;" target="_blank" title="Click to know more about PRODUCTION">PRODUCTION</a> in the <a href="https://interviewquestions.tuteehub.com/tag/long-537592" style="font-weight:bold;" target="_blank" title="Click to know more about LONG">LONG</a> run.</body></html> | |
| 6568. |
What is the opportunity cost of an input which has no alternatives use? |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :The <a href="https://interviewquestions.tuteehub.com/tag/opportunity-1137192" style="font-weight:bold;" target="_blank" title="Click to know more about OPPORTUNITY">OPPORTUNITY</a> <a href="https://interviewquestions.tuteehub.com/tag/cost-25707" style="font-weight:bold;" target="_blank" title="Click to know more about COST">COST</a> of such <a href="https://interviewquestions.tuteehub.com/tag/input-11237" style="font-weight:bold;" target="_blank" title="Click to know more about INPUT">INPUT</a> is <a href="https://interviewquestions.tuteehub.com/tag/zero-751093" style="font-weight:bold;" target="_blank" title="Click to know more about ZERO">ZERO</a>.</body></html> | |
| 6569. |
What is the relation between marginal cost and average cost when average cost in constant is constant ? |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<a href="https://interviewquestions.tuteehub.com/tag/marginal-555038" style="font-weight:bold;" target="_blank" title="Click to know more about MARGINAL">MARGINAL</a> <a href="https://interviewquestions.tuteehub.com/tag/cost-25707" style="font-weight:bold;" target="_blank" title="Click to know more about COST">COST</a> is <a href="https://interviewquestions.tuteehub.com/tag/equal-446400" style="font-weight:bold;" target="_blank" title="Click to know more about EQUAL">EQUAL</a> to <a href="https://interviewquestions.tuteehub.com/tag/average-13416" style="font-weight:bold;" target="_blank" title="Click to know more about AVERAGE">AVERAGE</a> cost.</body></html> | |
| 6570. |
Name two important sources of secondary data. |
| Answer» <html><body><p></p>Solution :(i) Government Publications: Ministries of the Central and State <a href="https://interviewquestions.tuteehub.com/tag/governments-1010387" style="font-weight:bold;" target="_blank" title="Click to know more about GOVERNMENTS">GOVERNMENTS</a> in India publish a variety of Statistics as their routine activity. <br/> (<a href="https://interviewquestions.tuteehub.com/tag/ii-1036832" style="font-weight:bold;" target="_blank" title="Click to know more about II">II</a>) Semi-Government Publications: Semi-Government bodies (such as <a href="https://interviewquestions.tuteehub.com/tag/municipalities-567356" style="font-weight:bold;" target="_blank" title="Click to know more about MUNICIPALITIES">MUNICIPALITIES</a> and Metropolitan Councils ) publish data relating to education, <a href="https://interviewquestions.tuteehub.com/tag/health-1016582" style="font-weight:bold;" target="_blank" title="Click to know more about HEALTH">HEALTH</a>, births, and deaths.</body></html> | |
| 6571. |
A rise in the income of the consumer of a good X leads to a fall in the demand for that good. What is the good X called ? |
| Answer» <html><body><p></p>Solution :Inferior <a href="https://interviewquestions.tuteehub.com/tag/goods-1009877" style="font-weight:bold;" target="_blank" title="Click to know more about GOODS">GOODS</a> refers to those goods whose <a href="https://interviewquestions.tuteehub.com/tag/demand-436956" style="font-weight:bold;" target="_blank" title="Click to know more about DEMAND">DEMAND</a> decreases with an <a href="https://interviewquestions.tuteehub.com/tag/increase-1040383" style="font-weight:bold;" target="_blank" title="Click to know more about INCREASE">INCREASE</a> in income. For example : If demand of 'Toned Milk' decreases with increase in income, then Toned Milk' is an inferior good.</body></html> | |
| 6572. |
Explain through a diagram the effect a rightward shift of both the demand and supply curves on equilibrium price and quantity. |
| Answer» | |
| 6573. |
A consumer wants to consume two goods. The prices of the two goods are Rs 4 and Rs 5 respectively. The consumer's income is Rs 20 (i) Write down the equation of budget line. (ii) How much of good 1 can the consume, if she spends her entire income on that good ? (iii) How much of good 2 can she consume, if she spends her entire income on that good ? (iv) What is the slope of the budget line ? |
| Answer» <html><body><p></p>Solution :Let the two goods be x and y <br/> given : Price of `x (P_(x)) = Rs 4`, Price of `y (P_(y)) = Rs 5`, Income of the <a href="https://interviewquestions.tuteehub.com/tag/consumer-25599" style="font-weight:bold;" target="_blank" title="Click to know more about CONSUMER">CONSUMER</a> = Rs 20. Now, the equation of budget line will be: `4 x + 5y = 20` <br/> (<a href="https://interviewquestions.tuteehub.com/tag/ii-1036832" style="font-weight:bold;" target="_blank" title="Click to know more about II">II</a>) If the entire income is spent on good 1 (say, good x), then the quantity consumed of goody y will be zero. <br/> The <a href="https://interviewquestions.tuteehub.com/tag/revised-1188354" style="font-weight:bold;" target="_blank" title="Click to know more about REVISED">REVISED</a> budget line will be: `4x + 5 (<a href="https://interviewquestions.tuteehub.com/tag/0-251616" style="font-weight:bold;" target="_blank" title="Click to know more about 0">0</a>) = 20 " or " 5` units. <br/> So, the consumer will buy 5 units of good 1 (good x) <br/> (iii) If the entire income is spent on good 2 (say, good y), then the quantity consumed of good x will be zero. <br/> The revised budget line will be: `4(0) + 5y = 20 " or " y = 4` units <br/> So, the consumer will buy 4 units of good 2 (good y) <br/> (iv) The slope of a budget line measure the amount of change in good 2 required per unit of change in good 1 along the budget line. It is measured as follows: <br/> Slope `= (-P_(1))/(P_(2)) = (-P_(X))/(P_(Y)) = -0.8`</body></html> | |
| 6574. |
What is meant by explicit cost ? |
| Answer» <html><body><p></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/explicit-455193" style="font-weight:bold;" target="_blank" title="Click to know more about EXPLICIT">EXPLICIT</a> is the <a href="https://interviewquestions.tuteehub.com/tag/actual-361632" style="font-weight:bold;" target="_blank" title="Click to know more about ACTUAL">ACTUAL</a> money expenditure on inputs or payment made to outsiders for hiring their factor services. For example, <a href="https://interviewquestions.tuteehub.com/tag/wages-1448569" style="font-weight:bold;" target="_blank" title="Click to know more about WAGES">WAGES</a> paid toemployees, payment for raw <a href="https://interviewquestions.tuteehub.com/tag/material-1089170" style="font-weight:bold;" target="_blank" title="Click to know more about MATERIAL">MATERIAL</a> .</body></html> | |
| 6575. |
What does the value of first quartial indicate about a series ? |
| Answer» | |
| 6576. |
"The gap between Average Variable Cost and Average Fixed Cost falls when output rises". Defend or refute. |
| Answer» <html><body><p></p>Solution :The given statement is refuted. The gap between the <a href="https://interviewquestions.tuteehub.com/tag/two-714195" style="font-weight:bold;" target="_blank" title="Click to know more about TWO">TWO</a> costs <a href="https://interviewquestions.tuteehub.com/tag/rises-1189694" style="font-weight:bold;" target="_blank" title="Click to know more about RISES">RISES</a> with rise in output as average variable cost <a href="https://interviewquestions.tuteehub.com/tag/tends-7717049" style="font-weight:bold;" target="_blank" title="Click to know more about TENDS">TENDS</a> to rise after a particular level of output, whereas, average <a href="https://interviewquestions.tuteehub.com/tag/fixed-457597" style="font-weight:bold;" target="_blank" title="Click to know more about FIXED">FIXED</a> cost continuosly <a href="https://interviewquestions.tuteehub.com/tag/falls-983294" style="font-weight:bold;" target="_blank" title="Click to know more about FALLS">FALLS</a>.</body></html> | |
| 6577. |
Give the meaning of cost. |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<a href="https://interviewquestions.tuteehub.com/tag/cost-25707" style="font-weight:bold;" target="_blank" title="Click to know more about COST">COST</a> in economics includes actualexpenditure on inputs and the <a href="https://interviewquestions.tuteehub.com/tag/imputed-7257212" style="font-weight:bold;" target="_blank" title="Click to know more about IMPUTED">IMPUTED</a> <a href="https://interviewquestions.tuteehub.com/tag/value-1442530" style="font-weight:bold;" target="_blank" title="Click to know more about VALUE">VALUE</a> of the inputs <a href="https://interviewquestions.tuteehub.com/tag/supplied-3090548" style="font-weight:bold;" target="_blank" title="Click to know more about SUPPLIED">SUPPLIED</a> by the owners.</body></html> | |
| 6578. |
What is the general shape of the TP, AP and MP curves ? |
| Answer» <html><body><p><br/></p>Answer :TP, <a href="https://interviewquestions.tuteehub.com/tag/ap-380277" style="font-weight:bold;" target="_blank" title="Click to know more about AP">AP</a> and MP curves are <a href="https://interviewquestions.tuteehub.com/tag/inversely-7688775" style="font-weight:bold;" target="_blank" title="Click to know more about INVERSELY">INVERSELY</a> U-shaped</body></html> | |
| 6579. |
Why is theAR curve of a monopolist less elastic than the AR curve of a firm under monopolistic competition ? Explain. |
| Answer» | |
| 6580. |
What is saving? |
| Answer» <html><body><p></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/saving-1195397" style="font-weight:bold;" target="_blank" title="Click to know more about SAVING">SAVING</a> is that part of income which is not <a href="https://interviewquestions.tuteehub.com/tag/consumed-2540963" style="font-weight:bold;" target="_blank" title="Click to know more about CONSUMED">CONSUMED</a>. It is an act of <a href="https://interviewquestions.tuteehub.com/tag/abstinence-366281" style="font-weight:bold;" target="_blank" title="Click to know more about ABSTINENCE">ABSTINENCE</a> from <a href="https://interviewquestions.tuteehub.com/tag/consumption-931383" style="font-weight:bold;" target="_blank" title="Click to know more about CONSUMPTION">CONSUMPTION</a>.</body></html> | |
| 6581. |
Explain, giving examples. the problem of 'for whom to produce’. |
| Answer» <html><body><p></p>Solution :This studies the problem of distribution of final goods and services or the problem of distribution of income.It has two aspects. The first aspect relates to personal distribution and the second aspect relates to functional distribution.Personal distribution refers to output/income share of individuals or households in society.Functional distribution refers to income share of different <a href="https://interviewquestions.tuteehub.com/tag/factors-458933" style="font-weight:bold;" target="_blank" title="Click to know more about FACTORS">FACTORS</a> of production.Here, the problem is whether <a href="https://interviewquestions.tuteehub.com/tag/allocation-373131" style="font-weight:bold;" target="_blank" title="Click to know more about ALLOCATION">ALLOCATION</a> of resources is promoting equality or not.Equality is a social <a href="https://interviewquestions.tuteehub.com/tag/virtue-1446933" style="font-weight:bold;" target="_blank" title="Click to know more about VIRTUE">VIRTUE</a>, and <a href="https://interviewquestions.tuteehub.com/tag/inequality-1043148" style="font-weight:bold;" target="_blank" title="Click to know more about INEQUALITY">INEQUALITY</a> may induce high saving, <a href="https://interviewquestions.tuteehub.com/tag/investment-25469" style="font-weight:bold;" target="_blank" title="Click to know more about INVESTMENT">INVESTMENT</a> and hence high rate of growth.</body></html> | |
| 6582. |
Define an indifference map |
| Answer» <html><body><p></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/indifference-1041534" style="font-weight:bold;" target="_blank" title="Click to know more about INDIFFERENCE">INDIFFERENCE</a> <a href="https://interviewquestions.tuteehub.com/tag/map-1087307" style="font-weight:bold;" target="_blank" title="Click to know more about MAP">MAP</a> <a href="https://interviewquestions.tuteehub.com/tag/refers-1181652" style="font-weight:bold;" target="_blank" title="Click to know more about REFERS">REFERS</a> to the family of indifference curves that <a href="https://interviewquestions.tuteehub.com/tag/represent-613876" style="font-weight:bold;" target="_blank" title="Click to know more about REPRESENT">REPRESENT</a> consumer preferences over all the bundles of the <a href="https://interviewquestions.tuteehub.com/tag/two-714195" style="font-weight:bold;" target="_blank" title="Click to know more about TWO">TWO</a> goods.</body></html> | |
| 6583. |
Calculate weighted mean of the following data by using Direct and Short-cut Methods: {:("Items",81,76,74,58,70,73),("Weight",2,3,6,7,3,7):} |
| Answer» <html><body><p><br/></p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :<a href="https://interviewquestions.tuteehub.com/tag/weighted-1451397" style="font-weight:bold;" target="_blank" title="Click to know more about WEIGHTED">WEIGHTED</a> <a href="https://interviewquestions.tuteehub.com/tag/mean-1091459" style="font-weight:bold;" target="_blank" title="Click to know more about MEAN">MEAN</a> = 70.04</body></html> | |
| 6584. |
Government reduces the price of inputs used in the production of commodity X. Describe the chain of effects of this change in the market. |
| Answer» <html><body><p></p>Solution :The chain of effects of this change can be summarised as under: <br/> Reduction in prices of inputs lowers the cost of production.<br/> Revenues remaining unchanged, profits increase. <br/> Increase in profits <a href="https://interviewquestions.tuteehub.com/tag/induces-515283" style="font-weight:bold;" target="_blank" title="Click to know more about INDUCES">INDUCES</a> the producers to supply more. <br/> Demand remaining unchanged, excess supply emerges. <br/> This leads to competition among <a href="https://interviewquestions.tuteehub.com/tag/sellers-1200267" style="font-weight:bold;" target="_blank" title="Click to know more about SELLERS">SELLERS</a> because they are not able to sell as they want to sell. <br/> As a result, price starts falling. <br/> <a href="https://interviewquestions.tuteehub.com/tag/due-433472" style="font-weight:bold;" target="_blank" title="Click to know more about DUE">DUE</a> to <a href="https://interviewquestions.tuteehub.com/tag/fall-983217" style="font-weight:bold;" target="_blank" title="Click to know more about FALL">FALL</a> in price, demand expands and supply contracts till demand equals supply, creating new equilibrium at a <a href="https://interviewquestions.tuteehub.com/tag/lower-1080637" style="font-weight:bold;" target="_blank" title="Click to know more about LOWER">LOWER</a> price.</body></html> | |
| 6585. |
Dividing a series into equal is called : |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/decile-2047992" style="font-weight:bold;" target="_blank" title="Click to know more about DECILE">DECILE</a><br/>quartile<br/>percentile<br/>None of these</p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/dividing-957391" style="font-weight:bold;" target="_blank" title="Click to know more about DIVIDING">DIVIDING</a> a <a href="https://interviewquestions.tuteehub.com/tag/series-1201802" style="font-weight:bold;" target="_blank" title="Click to know more about SERIES">SERIES</a> intoten <a href="https://interviewquestions.tuteehub.com/tag/equalparts-2616987" style="font-weight:bold;" target="_blank" title="Click to know more about EQUALPARTS">EQUALPARTS</a> is <a href="https://interviewquestions.tuteehub.com/tag/called-907796" style="font-weight:bold;" target="_blank" title="Click to know more about CALLED">CALLED</a> :decile</body></html> | |
| 6586. |
Sachin made the following runs in different matches: {:("Runs",5-15,15-25,25-35,35-45,45-55),("Frequency"," "10," "12," "17," "19," "22):} Calculate the average mean of the runs by Step-deviation Method. |
| Answer» <html><body><p><br/></p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :<a href="https://interviewquestions.tuteehub.com/tag/average-13416" style="font-weight:bold;" target="_blank" title="Click to know more about AVERAGE">AVERAGE</a> <a href="https://interviewquestions.tuteehub.com/tag/mean-1091459" style="font-weight:bold;" target="_blank" title="Click to know more about MEAN">MEAN</a> = 33.875 <a href="https://interviewquestions.tuteehub.com/tag/runs-1192287" style="font-weight:bold;" target="_blank" title="Click to know more about RUNS">RUNS</a></body></html> | |
| 6587. |
When marginal utility is zero, total utility is: |
| Answer» <html><body><p>Zero<br/>Minimum<br/>Maximum<br/>Negative</p>Answer :<a href="https://interviewquestions.tuteehub.com/tag/c-7168" style="font-weight:bold;" target="_blank" title="Click to know more about C">C</a></body></html> | |
| 6588. |
Nature of demand curve under oligopoly : |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/perfectly-7309466" style="font-weight:bold;" target="_blank" title="Click to know more about PERFECTLY">PERFECTLY</a> <a href="https://interviewquestions.tuteehub.com/tag/elastic-967540" style="font-weight:bold;" target="_blank" title="Click to know more about ELASTIC">ELASTIC</a> <br/>perfectly inelastic <br/><a href="https://interviewquestions.tuteehub.com/tag/less-1071906" style="font-weight:bold;" target="_blank" title="Click to know more about LESS">LESS</a> elasitc <br/>Indeterminate </p>Answer :D</body></html> | |
| 6589. |
Discuss the nature of demand curve under: (a) Perfect competition, (b) Monopolistic competition, (c ) Monopoly,(d) Oligopoly |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :a) Demand curve under perfect competition: In case of perfect competition, there are very large no. of <a href="https://interviewquestions.tuteehub.com/tag/buyers-906447" style="font-weight:bold;" target="_blank" title="Click to know more about BUYERS">BUYERS</a> and sellers <a href="https://interviewquestions.tuteehub.com/tag/selling-25929" style="font-weight:bold;" target="_blank" title="Click to know more about SELLING">SELLING</a> a homogeneous product at a price fixed by the market. Therefore, each firm is a price taker and faces a perfectly elastic demand curve.b) Demand curve under monopolistic competition: Under monopolistic competition, large no. of firms selling closely related but differentiated products makes the demand curve downward sloping. It implies that a firm can sell more output only by reducing the price of its product.c) Demand curve under monopoly: A monopoly firm islike an industry as the single seller constitutes the entire market for the product, which has no close <a href="https://interviewquestions.tuteehub.com/tag/substitutes-1231649" style="font-weight:bold;" target="_blank" title="Click to know more about SUBSTITUTES">SUBSTITUTES</a>. So, a monopolist has full freedom and power to fix price for the product. However, demand of the product is not in the control of monopoly firm. In <a href="https://interviewquestions.tuteehub.com/tag/order-1138220" style="font-weight:bold;" target="_blank" title="Click to know more about ORDER">ORDER</a> to increase the output to be sold, the monopolist will have to reduce the price. Therefore, monopoly firm faces a downward sloping demandcurve.d) Demand curve under oligopoly: The demand curve for an oligopoly firm is indeterminate, i.e. it cannot be drawn accurately as exact behavior pattern of a producer cannot be ascertained with certainty.</body></html> | |
| 6590. |
What is meant by cumulative frequency series? |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<a href="https://interviewquestions.tuteehub.com/tag/cumulative-428447" style="font-weight:bold;" target="_blank" title="Click to know more about CUMULATIVE">CUMULATIVE</a> frequency <a href="https://interviewquestions.tuteehub.com/tag/series-1201802" style="font-weight:bold;" target="_blank" title="Click to know more about SERIES">SERIES</a> is that series in which the frequencies are continuously added corresponding to each <a href="https://interviewquestions.tuteehub.com/tag/class-18125" style="font-weight:bold;" target="_blank" title="Click to know more about CLASS">CLASS</a> <a href="https://interviewquestions.tuteehub.com/tag/interval-1049953" style="font-weight:bold;" target="_blank" title="Click to know more about INTERVAL">INTERVAL</a> in the series.</body></html> | |
| 6591. |
Name the economic value achievable when attempts are made to increase resources in the country. |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<a href="https://interviewquestions.tuteehub.com/tag/economic-448435" style="font-weight:bold;" target="_blank" title="Click to know more about ECONOMIC">ECONOMIC</a> <a href="https://interviewquestions.tuteehub.com/tag/growth-1013761" style="font-weight:bold;" target="_blank" title="Click to know more about GROWTH">GROWTH</a>.</body></html> | |
| 6592. |
Difference between perfect competition and monopoly. |
| Answer» <html><body><p></p>Solution :~ In perfect <a href="https://interviewquestions.tuteehub.com/tag/competition-423521" style="font-weight:bold;" target="_blank" title="Click to know more about COMPETITION">COMPETITION</a>. there are very large no. of sellers and no individual seller has control over activities of other firms where as in monopoly, there is a single seller and the monopolist has full control over the supply.~The product is homogeneous i.e it is identical in all respects in perfect competition while there are no close substitutes off the product in monopoly.~In perfect competition, there is freedom of entry and exit. It leads to absence of abnormal profits and losses in the long run. Where as in monopoly, there is restriction on entry and exit. So a <a href="https://interviewquestions.tuteehub.com/tag/firm-989667" style="font-weight:bold;" target="_blank" title="Click to know more about FIRM">FIRM</a> can earn abnormal profits and losses in the long run.~Perfect competition: Firm is the price taker as price is determined by the industry.Monopoly: Monopolist is a price-maker as firm and industry are <a href="https://interviewquestions.tuteehub.com/tag/one-585732" style="font-weight:bold;" target="_blank" title="Click to know more about ONE">ONE</a> and the same thing.~Perfect competition: Buyer and sellers have perfect knowledge about market conditions.Monopoly: Buyers and sellers do not have perfect knowledge.~Perfect competition: Demand <a href="https://interviewquestions.tuteehub.com/tag/curve-941741" style="font-weight:bold;" target="_blank" title="Click to know more about CURVE">CURVE</a> is perfectly elastic as price remains same at all levels of output.Monopoly: Demand curve slopes downward as more output can be sold only at less price.~Perfect competition: No selling costs are incurred as buyers and sellers have perfect knowledge about market conditions.Monopoly: Selling costs are incurred for informative purposes <a href="https://interviewquestions.tuteehub.com/tag/due-433472" style="font-weight:bold;" target="_blank" title="Click to know more about DUE">DUE</a> to lack of perfect knowledge.</body></html> | |
| 6593. |
What iscost ineconomics? |
| Answer» <html><body><p></p>Solution :Cost in economics is the <a href="https://interviewquestions.tuteehub.com/tag/sumof-1234546" style="font-weight:bold;" target="_blank" title="Click to know more about SUMOF">SUMOF</a> <a href="https://interviewquestions.tuteehub.com/tag/actual-361632" style="font-weight:bold;" target="_blank" title="Click to know more about ACTUAL">ACTUAL</a> moneyexpendingon inputs and <a href="https://interviewquestions.tuteehub.com/tag/estimated-975638" style="font-weight:bold;" target="_blank" title="Click to know more about ESTIMATED">ESTIMATED</a> <a href="https://interviewquestions.tuteehub.com/tag/valueof-1442690" style="font-weight:bold;" target="_blank" title="Click to know more about VALUEOF">VALUEOF</a> inputs provided by <a href="https://interviewquestions.tuteehub.com/tag/theowner-3201832" style="font-weight:bold;" target="_blank" title="Click to know more about THEOWNER">THEOWNER</a>.</body></html> | |
| 6594. |
The class mid-point is equal to |
| Answer» <html><body><p>the <a href="https://interviewquestions.tuteehub.com/tag/average-13416" style="font-weight:bold;" target="_blank" title="Click to know more about AVERAGE">AVERAGE</a> of the <a href="https://interviewquestions.tuteehub.com/tag/upper-721698" style="font-weight:bold;" target="_blank" title="Click to know more about UPPER">UPPER</a> <a href="https://interviewquestions.tuteehub.com/tag/class-18125" style="font-weight:bold;" target="_blank" title="Click to know more about CLASS">CLASS</a> <a href="https://interviewquestions.tuteehub.com/tag/limit-1074025" style="font-weight:bold;" target="_blank" title="Click to know more about LIMIT">LIMIT</a> and the lower class limit<br/>the product of upper class limit and the lower class limit<br/>the ratio of the upper class limit and the lower class limit<br/>none of the above</p>Answer :A</body></html> | |
| 6595. |
The Production Possibility Frontier is generally, |
| Answer» <html><body><p>Convex Shaped Downward Sloping <br/><a href="https://interviewquestions.tuteehub.com/tag/concave-927978" style="font-weight:bold;" target="_blank" title="Click to know more about CONCAVE">CONCAVE</a> Shaped Downward Sloping <br/>Either (a) or (<a href="https://interviewquestions.tuteehub.com/tag/b-387190" style="font-weight:bold;" target="_blank" title="Click to know more about B">B</a>)<br/>Neither (a) nor (b) </p>Solution :B. We normally draw a PPF on a diagram as concave to the origin i.e. as we move down the PPF, as more <a href="https://interviewquestions.tuteehub.com/tag/resources-11387" style="font-weight:bold;" target="_blank" title="Click to know more about RESOURCES">RESOURCES</a> are allocated towards Good Y the extra output gets smaller – so more of Good X has to be given up in <a href="https://interviewquestions.tuteehub.com/tag/order-1138220" style="font-weight:bold;" target="_blank" title="Click to know more about ORDER">ORDER</a> to produce Good YThis is an explanation of the law of diminishing returns and it occurs because not all factor inputs are equally suited to producing items</body></html> | |
| 6596. |
If there is no change in demand for commodity 'X' even after rise in its price, then it demand is: |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/perfectly-7309466" style="font-weight:bold;" target="_blank" title="Click to know more about PERFECTLY">PERFECTLY</a> <a href="https://interviewquestions.tuteehub.com/tag/elastic-967540" style="font-weight:bold;" target="_blank" title="Click to know more about ELASTIC">ELASTIC</a> <br/>Pecfectly Inelastic<br/>Less Elastic <br/><a href="https://interviewquestions.tuteehub.com/tag/highly-2102664" style="font-weight:bold;" target="_blank" title="Click to know more about HIGHLY">HIGHLY</a> Elastic</p>Solution :N/a</body></html> | |
| 6597. |
The title of the table should be: |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/carefully-2014243" style="font-weight:bold;" target="_blank" title="Click to know more about CAREFULLY">CAREFULLY</a> <a href="https://interviewquestions.tuteehub.com/tag/worded-7722820" style="font-weight:bold;" target="_blank" title="Click to know more about WORDED">WORDED</a> <br/><a href="https://interviewquestions.tuteehub.com/tag/brief-904147" style="font-weight:bold;" target="_blank" title="Click to know more about BRIEF">BRIEF</a> <br/><a href="https://interviewquestions.tuteehub.com/tag/clear-408920" style="font-weight:bold;" target="_blank" title="Click to know more about CLEAR">CLEAR</a> <br/>All the above. </p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :D</body></html> | |
| 6598. |
Production Possibility Frontier is: |
| Answer» <html><body><p>Downward Sloping <br/>Concave Shaped<br/>Both (a) and (b) <br/>Either (a) or (b)</p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :The two <a href="https://interviewquestions.tuteehub.com/tag/basic-15343" style="font-weight:bold;" target="_blank" title="Click to know more about BASIC">BASIC</a> <a href="https://interviewquestions.tuteehub.com/tag/characteristics-19445" style="font-weight:bold;" target="_blank" title="Click to know more about CHARACTERISTICS">CHARACTERISTICS</a> or features of PPF are:1. PPF slopes downwards:PPF shows all the maximum possible combination of two goods, which can be produced with the available resources and technology. In such a case, more of one good can be produced only by taking resources away from the production of another good.2. PPF is Concave Shaped:PPF is concave shaped because of increasing marginal opportunity costs, i.e. more and more units of one commodity are sacrificed to <a href="https://interviewquestions.tuteehub.com/tag/gain-469945" style="font-weight:bold;" target="_blank" title="Click to know more about GAIN">GAIN</a> an <a href="https://interviewquestions.tuteehub.com/tag/additional-367648" style="font-weight:bold;" target="_blank" title="Click to know more about ADDITIONAL">ADDITIONAL</a> unit of another commodity.</body></html> | |
| 6599. |
What are the fetures of monopoly ? |
| Answer» <html><body><p></p>Solution :Following are the features of monopoly : <br/>Single <a href="https://interviewquestions.tuteehub.com/tag/seller-1200249" style="font-weight:bold;" target="_blank" title="Click to know more about SELLER">SELLER</a> and many buyers <br/> Noclose <a href="https://interviewquestions.tuteehub.com/tag/substitutes-1231649" style="font-weight:bold;" target="_blank" title="Click to know more about SUBSTITUTES">SUBSTITUTES</a> <br/> Restriction on entry and exit of firms <br/> Price discrimination <br/> Price maker/Full control over price <br/> Downward <a href="https://interviewquestions.tuteehub.com/tag/sloping-7378327" style="font-weight:bold;" target="_blank" title="Click to know more about SLOPING">SLOPING</a> and less elastic demand <a href="https://interviewquestions.tuteehub.com/tag/curve-941741" style="font-weight:bold;" target="_blank" title="Click to know more about CURVE">CURVE</a> (AR).</body></html> | |
| 6600. |
What are the degrees of price elasticity of supply? |
| Answer» <html><body><p></p>Solution :The degrees of price <a href="https://interviewquestions.tuteehub.com/tag/elasticity-14238" style="font-weight:bold;" target="_blank" title="Click to know more about ELASTICITY">ELASTICITY</a> of <a href="https://interviewquestions.tuteehub.com/tag/supply-1235254" style="font-weight:bold;" target="_blank" title="Click to know more about SUPPLY">SUPPLY</a> are : <br/> (i) Perfectly <a href="https://interviewquestions.tuteehub.com/tag/elastic-967540" style="font-weight:bold;" target="_blank" title="Click to know more about ELASTIC">ELASTIC</a> supply. When there is an infinite supply at a particular price and supply becomes zero with a slight fall in price. ltbr. (ii) Perfectly inelastic supply. When supply does not change with change in price. ltbr. (iii) Highly elastic supply. When `%` change in quantity supplied is <a href="https://interviewquestions.tuteehub.com/tag/greater-476627" style="font-weight:bold;" target="_blank" title="Click to know more about GREATER">GREATER</a> than `%` change in price. <br/> (iv) Less elastic supply. When `%` change in quantity supplied is less than `%` change in price. ltbr. (v) <a href="https://interviewquestions.tuteehub.com/tag/unitary-3246772" style="font-weight:bold;" target="_blank" title="Click to know more about UNITARY">UNITARY</a> elastic supply. When `%` change in quantity supplied is equal to `%` change in price.</body></html> | |