MICROECONOMICS CH : 13 MARKET EQUILIBRIUM UNDER PERFECT COMPETITION AND EFFECTS OF SHIFTS IN DEMAND AND SUPPLY — Economics STD 11 Commerce — Question

Define increase in demand. What causes increase in demand?

Write three merits of tabular presentation of data.
OR
State the merits of tabular presentation.

Explain the effect of rise in the prices of related goods on the demand for a good.

Compute mode from the following data.

Score	Frequency
0-10	10
10-20	20
20-30	18
30-40	32
40-50	21

Scatter diagram studies correlation between two variables but it does not measure the precise extent of correlation. In the context of above statement explain the advantages and disadvantages of scatter diagram.

Distinguish between classification and tabulation.

Find out TC, given the following information on MC for a firm which has spent ₹50 thousand on its establishment even when output was zero.

Output (Units)	1	2	3	4	5	6	7
MC (₹ thousand)	7	6	5	4	3	2	1

Calculate coefficient of correlation between age group and rate of mortality from the following data.

Age Group	0-20	20-40	40-60	60-80	80-100
Rate of Mortality	350	280	540	760	900

Discuss merits and demerits of Lorenz curve.