Question
A firm finds that for the product it produces, its (own)
price elasticity of demand is 4. Currently, the firm is selling 1000 units per month at Rs. 5 per unit. If it wishes to increase its sales by 10%, it mustSolution
PED = % change in qty/ % change in price 4 = 10%/% change in price % change in price = 2.5%. Since qty has increased, the price will fall by 2.5%.
In Nov 2017, Moody’s rating for India is upgraded to –
Special Drawing Rights (SDRs) is the unit of account of which of the following international financial organisation?
Biogas is mainly composed of?
The term ‘red herring’ is associated with –
When do we observe “Global Parents Day” every year?
In which of the following years, progressive liberalisation of the Indian economy was first initiated?
An arrangement between GOI and RBI to mop up the excess liquidity generated on account of higher capital inflows is called –
When is Karnataka Day celebrated in India?
Which of the following leaders associated with the Jats of Barout in Uttar Pradesh during the 1857 revolts?
The ONGC Videsh Limited has recently announced an oil discovery in which country ?
