If you are manager of the company mention the steps and the factors that...









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Business Economics

1. Suppose the demand equation for computers by Teetan Ltd for the year  2017 is given by Qd= 1200-P and the supply equation is given by Qs=  120+3P. Find equilibrium price and analyse what would be the excess  demand or supply if price changes to Rs 400 and Rs 120.

2. Assume that at the price of ₹75, the demand for the product is 250  units. If the price of the product increases to ₹90, the demand  decreases to 150 units. Calculate and analyse the difference in the  value of price elasticity using Arc Elasticity Method and Percentage  Method.

3. Alpha Ltd was planning to start production next year. Different  departments of the company were working together to forecast the demand  of the product in the market.

a) If you are manager of the company mention the steps and the factors  that would be relevant for forecasting the demand of rice in the market.

b) The price of rice and its demand (in kg) produced by Alpha Ltd in 2018  is given in the table. Fit a linear regression line and estimate and  analyse the demand for rice when price is Rs 50 per kg.


Price(Rs/kg)

17

20

24

28

32

Demand(Kg)

80

75

65

60

54


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