Question
A man purchased 'n' apples and sold them at Rs. 'n' per
apple. If the selling price per apple had been reduced by 20%, the total profit he would have earned would have been Rs. 80 less than his actual profit. Find the value of 'n'.Solution
ATQ; (n2) - 0.8n2Â = 80 Or, 0.2n2Â = 80 So, n2Â = 400 So, n = 20
Information for pricing decision involves
The goods whose demand is not tied with the demand for some other goods are said to haveÂ
A rightward shift in supply curve indicates
A high value of cross-elasticity indicates that the two commodities are
Movement along a demand curve as a result of change in price is known asÂ
Market with one buyer and one seller is called
In a typical demand schedule, quantity demanded varies
Â
The above curve is a
Demand analysis includesÂ
If the firms under perfect competition have different costs, abnormal profits can be earned in the long run only by