Paper 3 Quantitative

If the price elasticity of demand for a commodity is -2, what happens to total revenue if the price decreases by 10%?

Calculate the GDP at market prices if the net domestic product at factor cost is ₹5000 crore and indirect taxes are ₹400 crore while subsidies are ₹100 crore.

If the marginal propensity to consume (MPC) is 0.75, what is the value of the multiplier?

In a two-sector economy, if investment increases by ₹100 crore and the MPC is 0.8, what is the total increase in national income?

Given the supply function Qs = 20 + 3P and demand function Qd = 80 - 2P, find the equilibrium price.

A firm’s total cost function is TC = 100 + 5Q + 2Q². What is the marginal cost when output is 10 units?

If the price of good X rises from ₹10 to ₹12 and its demand falls from 100 units to 80 units, what is the price elasticity of demand using the midpoint method?

Calculate the income elasticity of demand if income increases from ₹2000 to ₹3000 and demand increases from 50 units to 75 units.

If the production function is Q = 4L^(1/2)K^(1/2), where L is labor and K is capital, what is the marginal product of labor when L=16 and K=25?

The government imposes a tax of ₹5 per unit on a good. If the supply function is Qs = 10 + 2P and demand function is Qd = 40 - 3P, what is the new equilibrium price paid by consumers?