You are fond of tea. Analyze what happens when price of coffee rises; your income goes up and suddenly some guests come to stay with you?

For the following demand function determine what will be the quantity demanded when the price assumes the values Rs. 5, Rs.4, Rs. Rs.3, Rs.2, Rs.1.

                                Q = 40 - 0.5 P

How do you interpret the following two functions?

a)Q = 100 - 2 P

b)P = 50 - 0.5 Q

Define For the following supply function determine what will be the quantity supplied when price assumes values 1, 2, 3, 4, 5, 6.

                                               Q = -4 + 4P

How do you interpret the following two functions :

(a) Q = -20 + 4P

(b) P = 5 + 0.25 Q

If four kg. of wheat exchanges for one kg. of rice, which concepts of price we are referring to?

The price of a bicycle is Rs. 1000/-, which concept of price we are referring to?

Your monthly income from salary is Rs. 3000. You desire to travel by taxi to and fro from office every day. Does your desire constitute demand for taxi?

Consider the following demand and supply schedules

What is equilibrium price and quantity?