For a given demand function Y = 50 - 2P, the quantity demanded at P = Rs. 20 is :

Arrange the following statements in chronological sequence about how government intervention in the form of price control has an impact on the market.

(A) There will be an excess demand for sugar in the market at that price.

(B) Government-imposed upper limit on the price of sugar.

(C) Quantity of sugar can be distributed to everyone, through a system of rationing.

(D) It could end up creating a shortage of sugar in the market.

Choose the correct answer from the options given below:

What will be elasticity of demand of a commodity when its price rises by 20% and quantity demanded falls from 125 units to 75 units?

When will increase in supply bring down the price, leaving the quantity demanded unchanged?

Which of the following is a demerit of price ceiling?

(A) Black Marketing.

(B) Stability of income of producers.

(C) Low quality product is offered to consumer.

(D) Standing in long queues to get allocated quota of the commodity.

Choose the correct answer from the options given below:

Arrange the following statements in correct sequence to determine the market equilibrium when the number of firms is fixed.

(A) There is excess demand in the market.

(B) Quantity demanded falls due to law of demand and quantity supplied increases due to law of supply(keeping other factors constant)

(C) The market price would tend to increase.

(D) The market moves towards the point where the quantity that the firms want to sell is equal to the quantity that the consumers want to buy.

Choose the correct answer from the options given below:

What is the formula for the price elasticity of demand for a good?