Question
If a shopkeeper buys toys at a prices ranging from Rs.
175 to Rs. 200 and sells at prices ranging from Rs. 275 to Rs. 300, what is the maximum possible profit that might be made in selling 45 toys?Solution
To make the maximum possible profit, one has to purchase the toys at minimum rate and he must sell the same at maximum rate. C.P. of 45 toys at minimum rate = 45`xx` 175 = Rs.7, 875 and S.P. of 45 toys at maximum rate = 45`xx` 300 = Rs. 13,500 ∴ Maximum possible profit = 13,500 – 7,875 = Rs. 5,625
A producer received ₹ 6,000 when the price of a commodity was ₹ 60 per unit. The receipts increased to ₹ 8,400 when the price increased by ₹ 10....
Using the following table. Find the profit-maximizing output when price is Rs 25:
A monopolist is facing a downward sloping linear market demand. His variable cost of production is zero. The profit maximizing price will
The credit manager at a Departmental store collects data on 100 of her customers. Of the 60 men, 40 have credit cards (C). Of the 40 women, 30...
Consider an Economy that produces only Apples and Bananas. The following Table contains per unit price (in INR) and quantity (in kg) of these goods. Ass...
The Haig-Simons definition of comprehensive income is best described as:
When exchange rate in terms of domestic currency rises
Which scenario best describes the 'trilemma' or 'impossible trinity' in the context of the Mundell-Fleming Model?
Which of the following is correct regarding long run cost
Assume that there are equal numbers of male and female students in a university. Of all male students, 10 per cent major in economics; and of ...
Relevant for Exams:
