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.

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

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.

Define utility. Explain the diminishing law of utility.

Define fiscal deficit.