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There are four consumers of a fruit called smile. They are: Isla, Ifraah, Ila and Ibema. Their demand curves for smile are given below. Derive the market demand curve.

Price (₹)Quantity Demanded by Isla (Units)Quantity Demanded by Ifraah(Units)Quantity Demanded by Ila (Units)Quantity Demanded by Ibema (Units)
1167158
2116126
37594
44462
52330
61200



Does zero correlation mean independence?
A consumer spends ₹400 on a good priced at ₹8 per unit. When its price rises by 25 per cent, the consumer spends₹500 on the good. Calculate the price elasticity of demand by the percentage method.
Define the terms:
  1. Investigator
  2. Population
  3. Respondent
How is standard deviation independent of origin but not of scale?
There are 80 students in Silver Bells School who play cricket. A city level tournament has been organised and the school is required to send it's team to play in the tournament. The sports teacher, Mr Murthy, decided to select 14 players; 11 regulars and 3 substitutes. Should he select the team randomly? Why or why not?
Complete the following table:
Output (Units)Total Revenue (₹)Total Cost (₹)Profit (₹)
168-
2-9- 1
310-0
41211-
5148-
In how many groups, different commodities have been divided while constructing Wholesale Price Index in India?
Image
Identify the curves A & B given in the above diagram as short period supply curve and long period supply curve. Also, explain why is supply more responsive to price in the long period compared to short period.