Indian Economy Questions

Which of the following is not an assumption of perfect competition?

Which of the following best defines free trade?

__________________ is a good whose quantity demanded decreases when consumer income rises.

If the average total cost are Rs 2400, average variable cost is Rs 1700 and quantity produced is 75 units, find the total fixed costs of the firm?

If quantity of a good demanded increases from 200 to 250 then the average income of the population increases from Rs 20,000 to Rs 30,000, find Arc Income elasticity of demand?

Insure payment of minimum wages for tea leave pickers

A manufacturer faces price elasticity of demand of a ­1.25 for its product. If it lowers its price by 6.4%, the increase in quantity sold will be _____.

If for a perfectly competitive firm, price is Rs 7.2, output is 4500 units, average variable costs are Rs 1.2, and average total costs are Rs 4. The firm's profits are equal to