Sat
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1. What happens to demand when following change occur? a. the price of a normal commodity falls. B. income increase & the commodity is inferior? 2. Graphically? Representation the relationship b/n the total product, mp, av? 3. Distinguish b/n economic profit and business profit? 4. What is snob effect? 5. Why iso-quant don’t intersect each – other? 6. Demand function for its 165 lit. Refrigerator: p=500-2q with the help of this function, find the MR function? 7. Find the price elasticity of demand of a firm that sells a product at p=rs 16 & mr=rs 12? 8. Suppose the production function for a commodity is given by : Q=40L.5K.5. FIND OUT P F
