Question
If the elasticity of demand is -2 and price charged by
the firm is Rs.10 and quantity sold is 15 units. What is the Lerner’s Index of Monopoly power?Solution
Lerner’s Monopoly Power is 1/e = ½.
The average temperature for a week is recorded as 35.4°C. The difference between the highest and lowest temperatures during the week is 30°C. Addition...
The average number of books on history, polity and geography in a library is 140, and the average number of books on history and geography is 150. If th...
The average monthly fee of all 45 students in a class is Rs. 9,500. After an increment, the new monthly average fee of each student becomes Rs. (9500 + ...
The average of the first six numbers is four times the average of the next three numbers. If the average of all nine numbers is 24, then find the sum of...
The average salary of 24 employees is recorded as ₹ 16,584. If the salary of an employee with value ₹14,526 was entered Wrongly as ₹ 41,238, then ...
A number is such that when it is multiplied by 4, it gives another number which is as much above from 180 as the original number (itself) is below 180. ...
The mean of 50 observations was calculated as 75. It was later found that one of the observations was misread as 173 instead of 113. The correct mean is...
In a classroom, there are 24 male students and 16 female students. The male students have an average age of 16 years, while the female students average ...
The average age of a class of 20 girls is 15 years. If 5 new girls having average age of 10 years join the class, then the average age of the class beco...
In an examination the average marks of Rohit is 54. If he got 18 more marks in science and 22 more marks in maths then his average would have been 58. F...
