CUET Economics - When the price of a good falls from Rs. 40 to Rs 30, the total revenue earned by the firm falls from Rs. 4000 to Rs. 2700, find price elasticity of supply for the good. | PYQs + Solutions

CUET Economics 2025 16 May Shift 1

Micro

Medium

1.3

0.5

✅ Correct Option: Drop

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26 May Shift 2

Suppose the market determined rent for apartments is $200 per month. The government intervenes and sets the rent control at $250 per month. What is the likely impact of this intervention on market of apartments?

29 May Shift 2

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.

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

Choose the correct answer from the options given below:

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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?

CUET Economics 2025 16 May Shift 1 PYQs

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