Answer the following questions A. If the price of a doll is Rs. 25, a doll...
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Answer the following questions A. If the price of a doll is Rs. 25, a doll maker supplies 100 dolls per day. If the price rises to Rs. 35 per doll, he is willing to supply 200 dolls per day. Calculate the price elasticity of supply of dolls. (4 marks) B. At price of Rs 20 per unit, 400 units of a commodity were supplied. The price elasticity of the supply is 3.5. If the price rises to Rs. 40 per unit, calculate the quantity supplied at the new price. (4 marks) C. In a single day Ragu, the producer and seller collect Rs. 5000 from sales; over this day, his equipment depreciates in value by Rs.500. of the remaining Rs. 4500, he pays sales tax worth Rs.300, takes home Rs. 2000 and retains Rs. 220 for improvement and buying new equipment. He further pays 5 percent as income tax from his income. C(a). Based on this information, complete his contribution to the following measure of income GDPMP.FC. NDPMP, Fc, GNPMP, FC. NNPMP. FC. Personal Income (PI) and Personal Disposable Income(PDI). (4 Marks) C(b). If he wants to start a new branch in foreign, will it impact his contribution to national income? (3 marks) Answer the following questions A. If the price of a doll is Rs. 25, a doll maker supplies 100 dolls per day. If the price rises to Rs. 35 per doll, he is willing to supply 200 dolls per day. Calculate the price elasticity of supply of dolls. (4 marks) B. At price of Rs 20 per unit, 400 units of a commodity were supplied. The price elasticity of the supply is 3.5. If the price rises to Rs. 40 per unit, calculate the quantity supplied at the new price. (4 marks) C. In a single day Ragu, the producer and seller collect Rs. 5000 from sales; over this day, his equipment depreciates in value by Rs.500. of the remaining Rs. 4500, he pays sales tax worth Rs.300, takes home Rs. 2000 and retains Rs. 220 for improvement and buying new equipment. He further pays 5 percent as income tax from his income. C(a). Based on this information, complete his contribution to the following measure of income GDPMP.FC. NDPMP, Fc, GNPMP, FC. NNPMP. FC. Personal Income (PI) and Personal Disposable Income(PDI). (4 Marks) C(b). If he wants to start a new branch in foreign, will it impact his contribution to national income? (3 marks)
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