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What will be the values of (i) and (ii)? - Economic Applications

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प्रश्न

What will be the values of (i) and (ii)?

Price (in ₹) Quantity Demanded by Total Demand
  A B C  
10 30 (i) 12 52
20 20 8 9 37
30 10 6 (ii) 22

पर्याय

  • 10 and 12

  • 6 and 10

  • 10 and 6

  • 6 and 12

MCQ
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उत्तर

10 and 6

Explanation:

For (i) when the price is ₹10:

Total Demand = A + B + C

Given that the total demand is 52 units:

52 = 30 + (i) + 12

(i) = 52 − 42 = 10 units

For (ii) when the price is ₹30:

Total Demand = A + B + C

Given that the total demand is 22 units:

22 = 10 + 6 + (ii)

(ii) = 22 − 16 = 6 units

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  या प्रश्नात किंवा उत्तरात काही त्रुटी आहे का?
पाठ 1: Elementary Theory of Demand - QUESTIONS [पृष्ठ १८]

APPEARS IN

गोयल ब्रदर्स प्रकाशन Economic Applications [English] Class 10 ICSE
पाठ 1 Elementary Theory of Demand
QUESTIONS | Q 24. | पृष्ठ १८

संबंधित प्रश्‍न

Draw a demand curve with the help of a hypothetical individual demand schedule.


The relationship between income and demand for inferior goods is ______.


Observe the following table and answer the following questions:

Quantity demanded
Price per kg. in ₹ Consumer
A
Consumer
B
Consumer
C
Market demand (in kgs)
(A + B + C)
25 16 15 12 ______
30 12 11 10 ______
35 10 09 08 ______
40 08 06 04 ______
  1. Complete the market demand schedule.
  2. Draw market demand curves based on the above market demand schedule.

Give economic terms:

Graphical representation of demand schedule.


Study the following table and answer the questions:

Price of Chocolate (₹) Quantity Demanded Market Demand
  Consumer A Consumer B Consumer C (A + B + C)
50 4 9 20 33
100 3 `square` 15 26
150 `square` 7 10 19
200 1 6 5 `square`
250 0 5 `square` 5

Questions:

  1. Complete the above table.
  2. State whether the following statements are True or False:
    (a) As the price rises from ₹50 to ₹250, market demand falls from 33 to 5. This fall in market demand is known as the decrease in demand.
    (b) There is an inverse relationship between price and market demand.

State with reasons whether you agree or disagree with the following statements:

When price of Giffen goods fall, the demand for it increases.


Demand schedule is a list of prices and quantities.


From the following data regarding individual demand schedules of households A, B and market demand schedule, what will be the values of (i) and (ii) (Assuming that there are only 2 households in the market).

Price (in ₹) Individual Demand (units) Market demand (units)
A B C
7 (i) 16 15 51
8 18 15 (ii) 46
9 16 12 11 39
10 13 10 9 32

Construct a demand schedule showing relationship between price and quantity demanded.


Complete the following individual demand schedule.

Price in (₹) Quantity of sugar Demanded in Kgs
5 20
6 ______
7 ______
8 ______
9 ______

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