When the price of a ball is Rs 10 then 200 cricket balls are produced by the firm in the market. When the price of a ball rises to Rs 30 then 1000 cricket balls are produced in aggregate by the firm in the market. What will be the value of Price elasticity of supply?

In a perfectly competitive market, the marginal revenue curve is?

When Government fix the minimum price of any commodity this move of government is known by:

Match the LIST-I with LIST-II

(SMC = Short run marginal cost, AVC = Average variable Cost, MR= Marginal Revenue)

Choose the correct answer from the options given below:

One has to specify the market environment in which a firm functions. Identify the features of a perfectly competitive market:

(A) The market consists of a large number of buyers and sellers

(B) Each firm produces and sells a heterogeneous product.

(C) Entry into the market as well as exit from the market are free for firms.

(D) Perfect Information.

Choose the correct answer from the options given below:

What are the key components of a perfectly competitive market?

(A) Large number of buyers and sellers.

(B) Homogeneous product.

(C) Free Entry and exit.

(D) Asymmetric Information.

Choose the correct answer from the options given below:

In a perfectly competitive market, a firm produces and sells a certain amount of goods. Among the following what reflect the firm's profit?