MICROECONOMICS CH : 5 THEORY OF DEMAND — Economics STD 11 Commerce — Question

Calculate weighted aggregative price index number from the following data using Paasche's method.

Commodity	Base Year		Current Year
	Price (₹)	Quantity	Price (₹)	Quantity
A	10	30	12	50
B	8	15	10	25
C	6	20	6	30
D	4	10	6	20

State the features of indifference curves.

Show with the help of diagrams, the effect on equilibrium price and quantity when:
(i) demand is perfectly elastic and supply decreases.
(ii) supply is perfectly elastic and demand increases.

Find out the price index of the year 2015 assuming 2014 as the base year of the following data by using simple average of price relative method.

Commodity	Price in 2014 (₹) Per Quintal	Price in 2015 (₹) Per Quintal
Wheat	800	900
Sugar	1100	1200
Rice	400	600
Potato	500	700
Salt	300	500

Prepare the frequency array of marks obtained by 25 students of a class in economics test 20, 15, 20, 30, 40, 25, 25, 30, 40, 20, 35, 35, 50, 15, 50, 25, 40, 40, 30, 50, 25, 30, 30, 15, 45.

Discuss merits and demerits of Lorenz curve.

Calculate median from the following data:

Mid value	5	15	25	35	45
Frequency	4	8	16	7	5

Explain the different forms of qualitative classification data.

Distinguish between average revenue and marginal revenue. Mention also the relation between them.

Calculate coefficient of correlation from the given data:

X	0	2	4	6	8	10	12
Y	4	4	6	10	10	8	7