and cases The following table presents the demand and supply of Orange in the market. By using these data, answer the following questions. Demanded Supplied Price (Rs) week (Numbers) (Numbers) 2.00 100 30 2.20 90 40 2.40 3. 80 2.60 70 60 2.80 60 70 3.00 6. 50 Draw the demand and supply curves for the above market. If price of the commodity increases from 3 to 5 and clasticity is 2 each for demand and supply, calculate quantity demanded and supply of the commodity? Elaborate the- term of clasticity with diagram. Calculate the Price Elasticity of Demand (PED) and supply (PES) for the data and draw diagrams for respective PED and PES in the market. 8838S
and cases The following table presents the demand and supply of Orange in the market. By using these data, answer the following questions. Demanded Supplied Price (Rs) week (Numbers) (Numbers) 2.00 100 30 2.20 90 40 2.40 3. 80 2.60 70 60 2.80 60 70 3.00 6. 50 Draw the demand and supply curves for the above market. If price of the commodity increases from 3 to 5 and clasticity is 2 each for demand and supply, calculate quantity demanded and supply of the commodity? Elaborate the- term of clasticity with diagram. Calculate the Price Elasticity of Demand (PED) and supply (PES) for the data and draw diagrams for respective PED and PES in the market. 8838S
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Applications with numerical examples
and cases
e Tollowing table presents the demand and supply of Orange in the market. By
using these data, answer the following questions.
Supplied
(Numbers)
Price (Rs)
week
Demanded
(Numbers)
2.00
100
30
2.20
2.
90
40
2.40
3
80
50
2.60
4.
70
60
2.80
60
70
3.00
50
80
Draw the demand and supply curves for the above market.
If price of the commodity increases from 3 to 5 and clasticity is 2 each for demand
and supply, calculate quantity demanded and supply of the commodity? Elaborate the
term of clasticity with diagram.
Calculate the Price Elasticity of Demand (PED) and supply (PES) for the data and
draw diagrams for respective PED and PES in the market.
If price is increased from 5 to 7, how quantity demanded and supply will react using
simple linear programming model forecast and answer this question.
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