Please urgent ques6,7,8

Please urgent ques6,7,8 QI, Give one reason for 'deereaw' in o' commodity, 02. Distinguish between and (Ij 03, Explain the meaning of 'increase in and in quantity of a schedule. (3) 04. Define market What is the effect On the of a good subsidy On the production of that good? E'.pla•n. (3) QS. Explain how technological a determinant Of a 06. The price Of a commodity rises by 20%, which leads to an increa•.e in units. price elasticity is 2, calculate initial and final supply of the Tmrnodity. 07. The price elasticity of supply of commodity is half the price of commodity X. 16% rise in the price of Y. results in a 40% rise in its supply. tf the price 'f 8%, calculate the percentage fall in its supply. 08. The total receipts of a firm get doubled due to a 20% rise in price of commodity X. if original supply was 30 units at a price of Rs. 100. calculate price elasticity ot suWy. calculate quantity at the increased price. (3)

Dear student,

The initial and final supply can be calculated as follows:

e_{s} = \frac{% c h a n g e i n s u p p l y}{% c h a n g e i n p r i c e} 2 = \frac{\frac{c h a n g e i n s u p p l y}{i n i t i a l s u p p l y} \times 100}{% c h a n g e i n p r i c e} 2 = \frac{\frac{20}{I n i t i a l s u p p l y} \times 100}{20} S o, I n i t i a l S u p p l y = 50 N o w, C h a n g e i n s u p p l y = F i n a l s u p p l y - I n i t i a l s u p p l y 20 = F i n a l s u p p l y - 50 S o, F i n a l s u p p l y = 70 u n i t s

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