What happens to the difference between the average total cost and the average variable cost as production is increased?

Find Gross National Product at Market Price and Private Income: (Rs crores)

(i)Private final consumption expenditure 800

(ii)Net Current transaction to abroad 20

(iii)Net factor income to abroad(-) 10

(iv)-300

(v)Net indirect tax150

(vi)Net domestic capital formation200

(vii)Current transfer to government40

(viii)Depreciation100

(ix)Net imports30

(x)Income accruing to government90

(xi)National debt interest50

When does ‘change in quantity demand’ take place?

A consumer consumes only 2 goods X and Y. Marginal utilities of X and Y are 4 and 3 respectively. Price of X and price of Y is Rs 3 per unit.Is consumer in equilibrium. What will be the further reaction of the consumer ? Give reasons.

When the price of a good rise from rs 10 to Rs 12 per unit, the producer supplies 10 percent more. Calculate price elasticity of supply.