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Vibhav
Subject: Economics
, asked on 9/8/17
Is it possible to extend the Demand and Supply Function like QD = a + bP + cY
Where a,b,c are constants
P= price of the good
Y = income of consumer
If the income increases, then what change will we make in this Demand Function???
Also if the Demand Function = QD = a + bP
And in this case if income changes how will we reflect this change in the Demand Function which does not contain the Income variable???
Answer
1
Vibhav
Subject: Economics
, asked on 9/8/17
The constant 'a' in supply function and demand function shows QS ans QD at price = 0.
Isnt this a illogical as Why would a producer supply anything at Price = 0 and shouldnt the demand of a rational consumer be infinity at price = 0
Answer
1
Riya Verma
Subject: Economics
, asked on 17/7/17
Plz explain non viable industry. How the producer is willing to produce if the equilibrium is on the negative side of axes
Answer
1
Saumya
Subject: Economics
, asked on 16/4/17
how to write chain of effects demand and supply?
Please answer asap
Answer
4
Simran
Subject: Economics
, asked on 14/4/17
How does Brexit affect the indian economy. Tell with reference to PPC
Answer
1
Simran
Subject: Economics
, asked on 14/4/17
How is market supply curve determined by individual supply curves?
Answer
5
Simran
Subject: Economics
, asked on 14/4/17
Q 13
13. Giving reason, state whether the following statement are true or false.
a. When there are diminishing returns to a factor total product always decreases.
b. When there are diminishing returns to a factor marginal and total product both always fall.
c. Increase in total product always indicates that there are increasing returns to factor.
Answer
3
Simran
Subject: Economics
, asked on 14/4/17
Q 12
12. The diagram shows AE is the demand curve of a commodity. On the basis of the diagram, state whether the following statements are true or false. Give reason for your answer.
a. Demand at point 'B' is price inelastic.
b. Demand at point 'C' is more price elastic than at point 'B'.
c. Demand at point 'C' is price elastic.
d. Price elasticity of demand at point 'C' is greater than price elasticity of demand at point 'D'
Answer
1
Simran
Subject: Economics
, asked on 14/4/17
Q10
10. A farmer grows pulses and wheat. How will an increase in the price of pulses affect the supply curve of wheat? Explain with the help of a diagram.
Answer
1
Simran
Subject: Economics
, asked on 10/4/17
Q22
Answer
2
Viraj Yaduvanshi
Subject: Economics
, asked on 12/2/17
"Most of us know that more watermelon is eaten in summers than other times means its demand is more in summers. According to law of demand the price of watermelon should be higher in summers. but acttually its prices falls in summers even though its consumption increases. why is this so. explain with diagram?
Answer
2
Viraj Yaduvanshi
Subject: Economics
, asked on 12/2/17
the market for commodity X is in equilibrium. Explain how change in price of the substitute commodity Y (related to commodity-X) would effect the market equilibrium with respect to commodity X?
Answer
1
Viraj Yaduvanshi
Subject: Economics
, asked on 12/2/17
the market for a commodity A is in equilibrium. the price of input rises. explain its chain of effects on equilibrium price, quantity demanded and supplied with the help of a diagram?
Answer
1
Viraj Yaduvanshi
Subject: Economics
, asked on 12/2/17
equilibrium price of an essential medicine is too high. explain what possible steps can be taken to bring down the equilibrium price but only through the market forces. also explain the series of change that will occur in the market?
Answer
1
Viraj Yaduvanshi
Subject: Economics
, asked on 12/2/17
Market for a competitive in which the existing firm are earning extra-normal profits how can the policy of liberalisation by the govt help in making the market of the consumers? explain
Answer
1
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What are you looking for?
Where a,b,c are constants
P= price of the good
Y = income of consumer
If the income increases, then what change will we make in this Demand Function???
Also if the Demand Function = QD = a + bP
And in this case if income changes how will we reflect this change in the Demand Function which does not contain the Income variable???
Isnt this a illogical as Why would a producer supply anything at Price = 0 and shouldnt the demand of a rational consumer be infinity at price = 0
Please answer asap
13. Giving reason, state whether the following statement are true or false.
a. When there are diminishing returns to a factor total product always decreases.
b. When there are diminishing returns to a factor marginal and total product both always fall.
c. Increase in total product always indicates that there are increasing returns to factor.
12. The diagram shows AE is the demand curve of a commodity. On the basis of the diagram, state whether the following statements are true or false. Give reason for your answer.
b. Demand at point 'C' is more price elastic than at point 'B'.
c. Demand at point 'C' is price elastic.
d. Price elasticity of demand at point 'C' is greater than price elasticity of demand at point 'D'
10. A farmer grows pulses and wheat. How will an increase in the price of pulses affect the supply curve of wheat? Explain with the help of a diagram.