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

Calculate coefficient of variation from the following data.

Number of Goals Scored:	0	1	2	3	4
Number of Matches Played:	27	9	8	5	4

What are the merits and limitations of Spearman's rank correlation?

Find the standard deviation using the actual mean method.

X	2	3	4	5	6	7
Frequency	2	3	9	21	11	5

A consumer's budget is ₹ 40. He is buying Good-1 and Good-2. Price of Good-1 is ₹ 8 per unit, and of Good-2 is ₹ 10 per unit. Draw a budget line on the basis of these figures.

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

Given the following schedule, state at which level of output, will the firm be at equilibrium and why.

Quantity (in units)	Price (in ₹)	Total Cost (in ₹)
0	10	5
1	10	25
2	10	35
3	10	40
4	10	50
5	10	70
6	10	100

CSO and NSSO are two major sources of secondary data. Comment.

Explain the meaning of statistical average or central tendency of a series.

How are the equilibrium price and quantity of a commodity affected when its supply rises and demand is perfectly elastic?

Explain the effect of rise in input prices on the supply of a good.