Read the following data and answer questions. A monopolist charges Rs. 30 for his product. He notices that elasticity in market A is 2 and elasticity in market B is 5.

What will be the Marginal Revenue in Market A?

For producing 100 units, Total variable cost is Rs.500 & Total fixed cost is Rs.1000. Compute Average Cost.

What is the average total cost in producing 20 units, if fixed cost is Rs.5000 and average variable cost is Rs. 2/-?

Questions are based on the demand and supply diagrams in Figure 1. D₁ and S₁ are the original demand and supply curves. D₂ , D₃ , S₂ and S₃ are possible new demand and supply curves. Starting from initial equilibrium point (1) what point on the graph is most likely to result from each change?

In Figure 1 (which represents the market for Perk), the initial equilibrium is at the intersection of S₁ and D₁. Assume that there is an increase in the productivity and at the same time the price of 5 star (chocolates) falls. The new equilibrium will be:

Questions are based on the demand and supply diagrams in Figure 1. D₁ and S₁ are the original demand and supply curves. D₂ , D₃ , S₂ and S₃ are possible new demand and supply curves. Starting from initial equilibrium point (1) what point on the graph is most likely to result from each change?

In Figure 1 (which represents the market for Perk), the initial equilibrium is at the intersection of S₁ and D₁ . Assume that there is an increase in the productivity and at the same time the price of 5 star (chocolates) falls. The new equilibrium will be:

Questions are based on the demand and supply diagrams in Figure 1. D₁ and S₁ are the original demand and supply curves. D₂ , D₃ , S₂ and S₃ are possible new demand and supply curves. Starting from initial equilibrium point (1) what point on the graph is most likely to result from each change?

In Figure 1(which represents the market for Perk), the initial equilibrium is at the intersection of S₁ and D₁ . The new equilibrium if there is a health scare about the effect chocolates may have is:

Questions are based on the demand and supply diagrams in Figure 1. D₁ and S₁ are the original demand and supply curves. D₂ , D₃ , S₂ and S₃ are possible new demand and supply curves. Starting from initial equilibrium point (1) what point on the graph is most likely to result from each change?

In Figure 1 (which represents the market for Perk (chocolates), the initial equilibrium is at the intersection of S₁ and D₁. The new equilibrium if there is rapid economic growth but cost of labour producing Perk also rises:

Questions are based on the demand and supply diagrams in Figure 1. D₁ and S₁ are the original demand and supply curves. D₂ , D₃ , S₂ and S₃ are possible new demand and supply curves. Starting from initial equilibrium point (1) what point on the graph is most likely to result from each change?

If Figure 1 represents the market for Perk (chocolates), the initial equilibrium is at the intersection of S₁ and D₁ . The new equilibrium if there is an increase in the price of Dairy milk (chocolates) will be:

Inductive method is _______ based on the observation of particular facts.

Economic laws are essentially _______ and _______ .