The price elasticity of supply of a commodity is 2.5. At a price of Rs.5 per unit, its quantity supplied is 300 units. What will be its quantity supplied at a price of Rs.4 per unit?

In case of normal goods, rise in consumer's income will lead to:

Suppose the demand and supply curve of commodity X in a perfectly competitive market are given by:

$q_d = 700 - p$

$q_s = 500 + 3p$

Assume that the market consists of identical firms. What will be the equilibrium price for this commodity?

If the government imposes a price ceiling of Rs 31 on salt, what will be the volume of excess demand/ supply in the market?

If additional unit tax imposed on goods by the government, then how it will be affect the movement of supply curve?

If the price of necessity good like clothes changes, what will be the effect on its demand?

Suppose an individual buy 30 bananas when its price is Rs. 10 per banana. When the price increases to Rs. 14 per banana, she reduces her demand to 24 bananas. In this case,what will be the price elasticity of demand?