The Supply function of a product x is as Sx = 5px + 3. Where Px stand for price. The quantity supplied corresponding to price of `2 will be ……………

Related MCQs

• The individual demand and supply curve of a product are Dx = 12-2px, Sx=3+5px, where Px stand for price and Dx and Sc respectively stands for quantity demanded and quantity supplie(d) If there are 5000 consumers and 1000 suppliers for the product under question. What will be the equilibrium price
• The demand function of a product x is as dx = 12-2Px, where Px stand for price. The quantity demanded corresponding to price of `2 will be …………….
• If a dealer is prepared to supply 1000 sets of a 29” Color TV if the price is `12,000 per set, however if the price raises to `15,000 he is prepared to supply 1,500 pieces. The elasticity of supply of TV set is
• Which of these would lead to increase in quantity supplied at a given price
• Which of these would lead to decrease in quantity supplied at a given price
• At a given price increase in quantity supplied can be possible if ……………
• What is the quantity demanded and supplied at the equilibrium price (Ref. Q. No. 278)
• If the price elasticity of demand for wine is estimated to be -.6, then a 20% increase in price of wine will lead to ………………….in quantity demanded of wine at that price
• If the price elasticity of demand of Chicken is +.95. then a 20% increase in price of chicken will lead to in quantity demanded of chicken at that price
• What will happen to the equilibrium price and quantity of peanut butter if peanuts increase in price and the price of jelly decreases?