sol ba program 1st year economics study material and syllabus in hindi
TRANSCRIPT
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I.
II.
1.
2.
3.
4.
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16/2022-13
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1
(Central Problems of an Economy)
(interdependent)
(free)
(What to produce)
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(alternative uses) (allocation)
(resource allocation) (preference intensity) (systematic allocation of resources) (according to priority) (production possibilities) (Production Possibilities Curve)
(How to Produce)
(Extensive cultivation) (Intensive cultivation) (Highly Labour Intensive) (Capital Intensive) (substitute)
(For whom to produce)
(Production Possibilities Curve)
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100
80
60
40
20
A
B
C
DE
F
20 40 60 80 100COTTON(INBALES)
WHEAT (IN MILLION TONS)
(Y-axis) (X-axis)
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'B' 'C' 'D' 'E' 'F' 'A' 'F'
'C''F' (Transformed)
'A' 'F' 'A''F'
(Concave)
(Concave Curve)
100
80
60
40
20
A
20 40 60 80 100COTTO
N(INBA
ES)
WHEAT (IN MILLION TONS)
Y
0 X
GH
I
JF
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5
100
80
60
40
20
A
20 40 60 80 100COTTON(INBALES)
WHEAT (IN MILLION TONS)
Y
0 X
GH
I
J
B
C
D
E
F
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(Law of Diminishing Returns)
X Y
(marginal product)
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10
MARGINALOUTPUT
(INMAUNO
S)
Y
X
8
6
4
2
0 1 2 3 4 5 6
ABOUR (NO. OF WORKERS)
(Universal)
(Exceptions)
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(Price Mechanism-Demand and Supply Analysis)
(Barter Systemof Exchange) (Price Mechanism)
(EquilibriumPrice)
(Demand Analysis)
(Perunit of time)
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(Individual or Household Demand) :
(i)
(ii)
(iii) (substitutes) (complements)
(iv)
(Market Demand)
(v) (composition)
(vi)
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(Law of Demand)
(inverse relationship)
(off set) (assumptions)
(Demand Schedule and Demand Curve) :
(i) (ii)
(Demand Schedule and Demand Curve)
(i)
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A 3.00 1
B 2.5 2
C 2.0 3
D 1.50 4
3.00
2.50
2.00
1.50
1.00
0.50
02 3 4
X1
Y
A
B
C
D
Quantity of oranges Demanded(Dozens)
Demandcurve
PriceofOranges
(perdozen)(Rs.)
X- Y- A, B, C D
(Market Demand Schedule and Demand Curve)
A B
A B
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A B A +B3.00 1 2 3
2.50 2 3 5
2.00 3 4 7
1.50 4 5 9
(a)Individual
demand curveof A
3.50
1
2.50
1.50
0.50
02 3 4 5 6
Y
X
A
A
D1
D1
Quantity demanded(Dozens)
Princeperdozen(inRs)
(b)Individual
demand curveof B
Quantity demanded(Dozens)
10
2 3 4 5 6 7 X
Y
B
D2B1
D2
(c)Market Demand
curve
Quantity demanded(Dozens) By A + B
10
2 3 4 5 6 7 8 9 10
A + B
X
Y
D
D1
C
Market demandcurve
A (a) B (b) (c) A (A) B (B) (A+B)
(Horizontal Summation) (Average or Representative)
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(i) (Law of Diminishing Marginal Utility)
(Successive)
(ii)
(iii) (Income effect) : (Income effect)
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(iv) (Substitution effect) :
(Exceptions) :
(scare)
(Goods Carrying Social Prestige)
(Giffen goods) : (Robert Giffen) (Bread) (Total food intake) (direct)
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(i)
40
Y
10
X
30
20
10
0 20 30 40 50
Bread (Loaves)Quantity Demanded
PriceofBread(paise)
Giffen Good
D
D
DD (Inferiorgood)
(Difference Between Extention and
Contraction of Demand and Increase and Decrease in Demand) :
(i)
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0X-Commodity (Units)
Price(Rs.Perdozen)
1 2 3 4
3.00
2.50
2.00
1.50
1.00
0.50
R S
M
P
Q
YD
T
X
Contractionof Demand
Extensionof Demand
DDX OP OQ OS OT (ST) OP OM OS OR (Movement along the same demand curve)
(ii) (Shifts in demand curve)
Y
D2
O R M N
Quantity demanded x commodity (units)
X
P
PriceofX(Rs.) Increasein
demand
DecreaseindemandD
2
D1
D1
D
D
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DD OP OM DD D
1D
1 OP OM ON
DD
D2D2 OP OR
(Supply Analysis)
(Meaning of Supply) :
(Direct relationship)
(Factors Determining the Supply) :
(i)
(ii)
(iii)
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(iv)
(v) (Goals of Producers)
(Law of Supply): (Direct)
(Supply Schedule of a Firm):
(Supply curve of a firm):
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X Y A, B,C D A, B, C D SS
SA
B
C D
SSupply curve
Quantity supplied Ball pens (units)
2.50
2.00
1.50
1.00
0.50
0 4 8 12 16 20 X
R
Priceperball-pen(Rs.)
(Market Supply Schedule and Market Supply Curve): A B
A B (A +B)
1.00 10 11 211.50 14 15 29
2.00 17 18 35
2.50 19 20 39
A B
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(Market Supply Curve): A B
(C)Market Supply
Curve
2.50
2.00
1.50
1.00
0.50
05 10 20 30 40 X
Sm
Sm
Y
Total Quantity supplied
2.50
2.00
1.50
1.00
0.50
05 15 25
S2
S2
Y
X
(B)Supply Curve
of B
Quantity supplied
2.50
2.00
1.50
1.00
0.50
05 10 15 2025 X
Quantity supplied
Y
Price(R
s.)
S1
S1
(A)Supply Curve
of A
(A)A (B) (X (C)
A OM A ON OM+ON=OT (14+15=29) X- (Horizontal axis)
(i) (Change in quantity supplied)
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0
2.50
2.00
1.50
1.00
0.50
5 10 15 20 X
Price(Rs.perdozen)
X Commodity (Units)
Y
P1
P2
P
S
S
M2
M1
M
Extensionof supply
Contractionof supply
MP M1P1 OM OM
1
MP M2P
2 OM OM
2
(ii)
Price(
inRs.)
Y
P
O
S2
S2
S
S
S1
S1
M2
Quantity Supplied (units)
M M1
Increase in
Supply
Decrease inSupply
X SS OP OM OP OM SS S
1S
1
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S1S
1 (OP) OM OM
1
SS S
2S
2 S
2S
2
(OP) OM OM2
(Determination of Equilibrium Price)
(Equilibrium Price)
(Equilibrium Quantity)
DD SS DD SSA AOP OM OP OP
OM
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(Excess Supply) (Unsold)
(Excess Demand) = 8
X
Price(perBallpenRs.)
Y
3.50
3.00
2.50
2.00
1.50
1.00
0.50
05 10 15 20 25 30 35 40Quantity of Ball pens
DEMANDED/SUPPLIED
Equilibriumpoint
Excessdemand
Equilibriumquantity
ExcessSupply
S
S
D
D
M
P A
Price(inRs.)
R1R
R2
D2
DD
1
D1
DD
2
S
S
M2M M
1
O
P1
PP
2
Y
Quantity Demanded and Supplied (units)
X
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(i)
DD SS R
OP OM DD D
1D
1 SS
D1D
1 SSR
1
OP1(R
1M
1) OM
1
DD D2D
2 SS D
2D
2
SSR2 OP
2 R
2M
2)
OM2
(i)
(ii)
(ii)
P2
PP
1
S2 S S
1
S1
SS
2
R2
R
R1
D
D
XO
Y
M2M M1
Quantity Demanded and Supplied (units)
Price(Rs.)
DD SS R OP OM S
1S
1 OP
1
SS S
2S
2
OP2R
2M
2)
OM2 OM
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(Theory of Consumer's Demand):
(Quantitative)
(Utility Analysis) :
(Law of Diminishing Marginal Utility) :
(Marginal Utility)
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(Total Utility)
(4+3=7) (4+3+2=9) (Negative)
(Positive) (Negative)
X Y- X-
L L
(i)
(ii)
(iii)
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Units of Oranges Negative
utility
X
Y
12
10
8
6
4
2
0-1
-2
1 2 3 4 5 6
Points ofsatiety
utility
TU
L
Total utilitycurve
Marginalcurve
NTotalandMarginalUtility
(Assumptions)
(Homogenous)
(Exceptions to the Law):
(i)
(ii)
(iii)
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(Hobbies)
DD Y- Y-
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Y
1.00
0.80
0.60
0.40
0.20
01 2 3 4 5
D
D
X
Units of Oranges
Marginal utility/Demanded curve
Marginalutility/Price(inRs.)
(i) n TU
nTU
n-1
(ii)
(iii)
(Law of Equi-Marginal Utility and Consumer's
Equilibrium): (rational)
X, Y Z
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X Y Z
(MUx) (MUy) (MUz)
X Y Z
X X X Y Y X X Y Z
X 18 + 16 + 14 +11 + 9 + 6 = 74
Y 12 + 10 + 8 + 7 + 6 = 43
Z 11 + 9 + 8 + 6 = 34
= 151
X 7, Y Z 76+43+28=147
X, Y Z
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MUx = MUy = MUz.
X, Y, Z (Px, Py Pz)
(MUx, MUy MUz)
MUx=
Px
6,
1
MUy=
Py
6,
1
MUz=
Pz
6
1
Y
MUx=
Px
MUy=
Py
MUz
Pz
MUX
=MUy
Px,
Py
(i)
(ii)
MUx=
MUy
Px=
Py
(iii) MUx
=MUy
Px
=Py
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(subjective)
(Quantity)
(Price effect)
(Indifference Curve Analysis)
(J.R. Hicks)
(Cardinal utility system) (subjective) (Ordinal utility) (Combinations)
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X Y (X Y (X
Y
X Y
(A)
(B) (C)
(D)
(E)
X- X Y- Y X Y A, B, C, D E A, B, C, D E
(indifferent)
Commodit
yY(units)
Y
A
B
C
D E
Commodity X(units)
25
20
1510
5
01 2 3 4 5
INDIFFERENCECURVE
X
(Assumptions of Indifferent Curve Analysis) :
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(Rationality) :
(Transitivity) : B A
A B B A CB C A
(Diminishing Marginal rate of substitution) : X Y (MRSxy), Y X-
X Y X Y
(MRSxy)
1 25
2 20 1x = 5y3 16 1x = 4y
4 13 1x = 3
5 11 1x = 2y
Y X X Y X Y (MRSxy) 1x = 5y X Y X Y 1x=4y X Y (MRSxy) X Y X (MRSxy =y/x)
X Y X Y X Y X X (Marginal significance) X Y
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(Properties of Indifference Curve) :
(Indifference curve
slopes dapes downward from left to right) : X Y X Y IC X
Y
CommodityY(un
its)
Commodity X(units)
30Y
A
B
C
DE
25
20
15
10
5
01 2 3 4 5
Decrease in Quantity of Y
Increase in Quantity of X
IC
X
(i) (i) (i)X YA (1x+5y) B (2x+10y) A B A B
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(i) (ii) (iii)
Y IC
C
B
A
X
Commodity X(units)
Commodity(units)
20
15
10
5
01 2 3 4
A B C
20
15
10
5
0
1
Y
X
2 3 4
Commodity X(units)
IC
1 2 3 4
20
15
10
5
0
YIC
C
B
A
Commodity X(units)
X
(ii) (X (vertical) (Y (ii) (iii) (Parallel) (ii)A(1x+10y) B(2x+10y)Y X A B
(iii) A(2x+5y) B(2x+10y) X Y A B A B
(Indifference curves are generally convex
to the point of origin) O IC
CommodityY(units)
A
B
C
D
EIC
CONVEX
y
y
y
y x
x
x
x
X
Y
25
20
15
10
5
0
1 2 3 4 5
Commodity X (units)
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X Y X Y
(Concave) (i)
X X Y AA
1=A
1A
2=A
2A
3 BB
1B
1B
2, B
1B
2B
2B
3
X Y X Y
(i) X Y 45 (ii) X Y (ii) 'L' (iii) X Y (90 (Kink)
(i)
(ii)
(iii)
CommoitY(uits)
Commodity X (units)
yxy
x
x
y
CONCAVE
B1
B2
B3
B
A1
A2
A3
A
Y
O X
IC
CommodityY(units)
Commodity X (units)
Y
X
IC
5
4
3
2
1
0 1 2 3 4 5
5
4
3
2
1
01 2 3 4 5
IC2
IC1
Commodity X (units)
C
ommodityY(units)
Y
X
(Two Indifference curves never
interesect or touch each other)
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A
YCommodity(units)
Y
X
IC1IC2
B
C
A
25
20
1513109
5
0 1 2 3 4 5
X Commodity (units)
IC1 A B,X Y
IC2 A CX Y
A=B A=C B=C BX Y CX Y X B C B Y C Y B=C
(Consumer's Equilibrium)
(i)
(ii)
(iii) X Y
(Budget line)
(i) (Scale of Preferences) (Indifference map) :
(Scale of Preferences)
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(Indifference Map)
X Y 1x+25y, 2x+20y, 3x+16y, 4x+13y 5x+11y X Y
X Y
A B C
X Y X Y X Y
A B B A A 1x+18y B 1x+25y X A BY A B A B B II(B) A I(A) C C B B
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C III(C) B II(B)
Y
X
35
30
25
20
15
10
5
0
1 2 3 4 5
CO
MMODITY-(
UNITS)
COMMODITY-X (UNITS)
I(A)
II(B)
III(C)
INDIFFERENCE MAP
O) X Y-
(Preferences)
(ii) (Budget or Price Line) :
X Y
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X Y X X B Y Y
B A B AB X Y C2X+4Y,D 4X+3Y, E 6X+2Y F 8X+1Y
K (2X+2Y) M (7X+3Y)
(X /Y
AB A
1B
1 AB (Shift)
A2B
2
(slope)
OA=
OB
1
1
OA
OB=
2
2
OA
OB
O
Y X X X (OB
1) Y Y
OA AB AB
1 4.21 X
X OB2
Y
5
4
A
C
D
EF
B
0 2 4X Commodity (Units)
Price Line
6 8 10 x
3
2 K
Y-Comm
odity((Units)
1
Y-Commodity((Units)
New PriceLine
(Income Rs 8)
Original PriceLine (Income Rs. 10)
New Price Line(Income Rs. 12)
X Commodity (Units)
1
2
2
4
3
Y
6
4
8
5
10
6
12 X
A1
B1 B1 B1
A2
A
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AB2 Y X
Y X
AB OA 5
=0.5OB 10
X AB1
1
OA 5=0.25
OB 20
OA
OB
BB2
NewPrice Line(Price of X-Rs 1.25)
0
1
2
3
4
5
Y
Original Price Line(Price of X = Rs. 1)
New Price Line(Price of X = 50 P)
2 4 6 8
A
10 12 14 16 18 20
B1
XYCommodity(Units)
X Commodity (Units)
X Y X Y
IC1, IC
2, IC
3, IC
4 IC
5, X Y
X Y
IC1, IC2, IC3, IC4 IC5 AB E, F P E IC
1 F
IC2 P
IC3 F P
P P (Point of tangency)
-
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X OM Y ON P
(Common)
IC5IC4IC3
IC2
X Commodity (Units)
EquilibriumPosition
1
2
3
4
5
Y-Commodity(Units)
2 X4 6 8 10
BM
A
Y
N
F
P
IC1
0
E
(P)
(i)
X Commodity (Units)
IC1
IC2
X
B
F
P
0
A
Y
Y-Comm
odity(Units)
(i) AB IC1
F F
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AB IC
1
(i) P IC2
F P P IC2
IC2
(i) (ii)
(i)
X Commodity (Units)
ICC
IC2IC1
X0
B B1M1
M
A1
Y
N1N
A
Y-Commodity(Units)
X X Y Y X X OB Y Y OA AB IC
1P P
X OM Y ON (Parallel) A
1B
1
-
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A1B
1 IC
2P
1
P1 X OM
1 Y ON
1
X Y PP
1 P P
1
(Income consumption curve) (Positive) (Negative) (Inferior good)
X X Y Y AB AB IC
1P
P X OM (AB) A
1B
1 A
1B
1
IC1P
1 P
1 P
1 X
OM1 P X OM
X MM1
P2 X OM
2 X
M1M
2 X
X P,P1 P
2
P
(Real Income)
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Commodity X (Units)
CommodityY(Units
)
(Interior Commodity)
X
M2 M1
P1
P
A
ICC
IC1
A1
A2
Y
0
P2
IC
M1 B1 B12B
(ii) (Price Effect) :
X Y (Y) (X) (Price Effect)
X Y AB AB IC P P X OM X X
OB1 Y Y OA AB
1
AB1 IC
1P
1 P P
1
X OM1 X OM
OM1 X MM
1
P P1 PCC (Price Consumption
Curve) Y X
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CommodityY
Price Effect
N
N1
Y
A
PCC
P1
P
M M1
IC1
B
IC
Commodity X
0 X
B1
Y X
(i) X X X
(ii) (Substitutes)
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P
OM ON X AB AB1
Y (OA),X (OB) OB1
P1 ON
1 OM
1
X OM OM1 X
MM1
AB A
1B
2 IC
1 P
2 A
1B
2
AB X (OM OM
2) AB
1 P
1
A1B
2 P
2 IC
2
P2 X OM
2
AB1P
1
IC1
PP2 P
2 P
1
X X X Y X MM
2 M
2M
1
SubstitutionEffect
B20 B1 XM1BM2M
Income EffectPrice Effect
X-Commodity (Units)
Y
A1
A
N2N1
N
IC1
P1
P2
ICC
PCC
PIC1
IC
IC
Y-Comodity(Units)
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(Price effect)
(Normal Good) (inferior)
(Giffen Good) (Robert Giffen)
(a large proportion of income)
X X- AB IC
1P P
X- OM X AC IC
2P
2 P
2 X
OM2 X OM
OM2 MM2 ED AB ED IC
2P
1 X OM
1
X MM1
P2 X OM
2 M
1M
2
MM1 M
1M
2
MM2 X
MM2
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(Giffen Good)
Income Effect (MM )1Commodity XGiffen Good
CommodityY
Income Effect (MM )2
CX
DB
MM1 M2
S.E(M M )1 2
IC2
IC1
P1A
E
Y
0
P2
P
(Direct) (Giffen's paradox)
(i)
(ii)
(iii)
(Derivation of Demand Curve) :
(Drivation) (Price Consumption Curve)
(i)
(ii)
(iii)
(iv)
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(Traditional demand curve) X Y X Y
X X Y OA X X OB AB IC
1P
X OM X X OC
AC IC2P1 P
1 X OM
1 (24 X P P
1
(PCC) (PCC) X (OA/OB) (OA/OC) (OM) (OM
1)
X- X- Y- X- D D
1X-
OM OM1 D D
1 DD
1
X-
PCC
Quantity of Wheat Demanded (kgs.))
Q4 8 12 16
B M12420 28 32 36 40
CM
P
P1
Y
A
MoneyIncome
(Rs.)
IC2
IC1
X
Quantity of Wheat Demanded (kgs.)
0.25
0.50
0.75
1.00
Y
0 4 8 12 16 20 24 28 32 36
D1
D
40 X
M1M
PriceofWhetperKg
(Rs)
Demandcurve
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(complements) (substitutes)
(Limitations)
(i)
(ii)
(Three Dimensional Diagram) (Algebra) (complementary goods)
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I
I
II
(Absolute changes)
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(Relative change)
III
I
(I)
(II)
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9 13 117 = > 1
8 15 120 = 1
6 20 120 = < 1
5 23 115
II
ekxa h xbZ ek=kk eas ifz r'kr ifjoruZdher eas izfr'kr ifjoruZ
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ekaxh ek=kk eas ifjorZu100
ikz jfa Hkd ekxa dh ek=kk
dher esaifjoruZ
100ikz jfa Hkd dher
dh
(1/20 100 = 5) (100/1000100 =10) 10% 5% =2
e P Q Q P
e =(Q/Q)100
=(P/P)100
Q/Q
P/P
=Q P
Q P/P
=Q P
P Q
Quantity Demanded
Price
A B S
D
R
C
X0
T
Y
AR BD OA OB (Q) AB CD) (P) CR (Q) QA (P) AR
e =Q P
P Q
e =AB AR
CR OA
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=CD AR
CR OA
( AB = CD)
=AS AR
AR OA
RCD RAS CD AS
= )CR AR
=AS
OA
=RS
TR( AR OT AR, OS TS
RS/TRRS T S TR
III
Q PP Q
(+20) Q/P
IV
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V
oLrq dh ekaxh xbZ ek=kk esaifz r'kr ifjorZumiHkksDrkvkas dh vk; eas ifz r'kr ifjoruZ
% 10% (10% 20% = 0.5)
X Y Y X
X
Y
oLrq dh ekaxh xbZ ek=kk eas izfr'kr ifjoruZ
oLrq dh dher esa ifz r'kr ifjoruZ
X Y Y X 20% X 20% 10% = 2) X Y Y X
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II
ifw rZ dh xbZ ek=kk eas izfr'kr ifjoruZdher eas izfr'kr ifjoruZ
1500010000 10000
500 400 400
5000 10000
100 400
1/ 2 1/ 4 2
III
l eL; k% I Q/PxP/Q Q/P P P/Q
Po P
1
o o
o
P Q
OQ 2 2
2
P Q
OQ
3 3
3
P Q
OQ P/Q
PoP1 P/Q P0P1 P/Q P
0P
1 Q/P
P0P
1
Q/P dQ/dP P/Q (dQ/dPxP/Q)
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Price
D
Y
X0
Quantity DemandedQ3
Q1Q2
Q0 D1
P0 P2P3
P1
Q/P=dQ/dP= Y OP
1 OP
2 OP
3
OQ0
Q/P=dQ/dP=oc (infinite) (infinite) X (infinity) OP
0
Quantity Demanded
Price
XQ0
p1
p2
p3
Y D
O
QuantityDemanded
Q0
P0
Q1 Q2 Q3 X
D
O
Y
Price
P/O Q/P dQ/dP (Rectangular hyperbola)
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ABCO, EFHO JKLO ABCO = OC x BC EFHO JKLO FH KL
Quantity Demanded
0 C H L X
Y
A
E
JD1
Price
K
F
B
D
P/Q
Po+P1
2
Qo+Q1
2
P/Q P1+Po
2 1
Q1+Qo 1 1
2
P Po
Q Q
Q
P
1 0
1 0
P P
Q Q
1 01
0 1 1 0
Q Q
P P
P P
Q Q
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P
o=10 P
1=8 Q
o=1000 Q
o=1500
1 01
0 1 1 0
Q Q
P P
P P
Q Q
8 1015001000
10 8 1500 1000
500 18 9
1.82 2500 5
P/Q
Po Q
o P/Q
10
1000
500 10
2.52 1000
P1/Q
1
500 8
4 /3 1.332 1500
P/Q
P/Q P/Q
P
oP
1
Po P
1
P1 P
o
Price
D
Y
X0
Quantity DemandedQ3
Q1Q2
Q0 D1
P0 P2P3
P1
dQ P
dP Q
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dQ
dP
dQ
dP
(reciprocal)
dQ
dP C F
dQ
dP
(Tangent)
Quantity Demanded
Price
A B
D1
F
C
E
X0
D
Y
D D1 C C P/Q
CA
OA D D
1
dQ
dP
EF
CE
C
EF CA
CE OA
1AD CA
CA OA
[CEF CAD1 1
ADEF
CE CA]
=1AD
OA
1CD
CD [CA DO CA, OD
1 DD
1 AD
1/
OA = CD1/DC]
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1CD
CD CCD
1 DD CD
o dk nk;ka Hkkx
o dk ck;ka Hkkx
P/QdQ
dP
DD
1P TR
P DD1 P
PR
PR
Quantity Demanded
Y
Y
D
D1Price
R X
P
D
IV
(infinity)
dQ P
dP Q
DD1 (dP/dQ) (Reciprocal)
(dQ/dP) P/Q (infinity)
P/Q D1 X D
Y D1 e=O D
e=
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D
D1 X
e = 0
e < 1
e = 1
e >1
e =
Quantity Demanded
0
A
B
C
Y
Pric
e
A (e=1) AD
1 AD A D
(e>1) B BD1 BD B A D
1 (eP
1Q/OQ
D1D1 D2D2
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Quantity Demanded
Price
Q1Q1
P1 P2
D2
D1
Y
Q2 D1 D2 X0
P
Quantity Demanded
Price
Q
P1
P2
D1
D2
Y
D1 D2 X
dQ P
dP Q
dQ
dP P/Q P
1
P2 OZ OQ
1P
1 OQ
2P
2
1 1
1
pQ
OQ
2 2
2
P Q
OQ
Quantity Demanded
D2Z
D1
P1
P2
Q1Q2 D1 D2
Y
Price
0 X
P1 P
2
(Y
PP2 OD
2
2 2
2
P D
P D
1 1
1
P D
PD OP
PD
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DD2P
2
2 2
2
P D
P D DD
1P
1
1 1
1
PD
PD P
2
P1
P2QOD
1 1
1
P D
PD
1QD
OQ
2 2
2
P D
P D
2QD
OQ
Quantity Demanded X
Y
D1
D
P1 P2
D2
P
0
Price
2QD
OQ
1QD
OQ
2QD
OQ
1QD
OQ
2 2
2
P D
P D
1 1
1
P D
P D
P1
P2
Quantity Demanded
Q0
D1 D2
X
Price
D
Y
P1 P
2 (Y-
(X
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Quantity Demanded
D1
D2
P2
P1
Q0
Y
Price
D X
P2QOD2
2
2 2
P D=
P D
1
1 1
P D=
P D
QD
OQ P2
2
2 2
P D
P D
P1
1
1 1
P D
P D P
1 P
2
D1D D
2D
P P/Q
dQdP
Q D1
D2
D1
X0 D2
Quantity Demanded
P
Y
dQ
dP D
1D
1 D
2D
2
P D1D
1 D
2D
2
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II
I
II
Quantity Demanded
Price
D
D
S
P
Xq0
P0
Y
0
S
P OPo Oq
o
Oqo
OPo
Quantity Demanded
Price
D
S
Xq1 q0
D1
D1
D
P0P1
Y
0
S
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DD D1D
1 OPo Op
1
Oqo Oq1
q0 q0 q0q1 q10 0 0
D
D
P0 P0Price P0
P1P1
S
S
S
SD1 D1
D1
D D
D1 D1D
D
X X X
Y YY'
Quantity Demanded/Supplied
(A) DD
Opo Op1 Oqo (B)P
oS Op
o Oq
o Oq
1
(C)
q0 q10
Price P0
P1
S
S
D1D
D1D
X
Y
Quantity Demanded/Supplied
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DD D1D
1 Op
o Op
1
Oqo Oq
1
(A) (B) (A) Op
o Oq
o Oq
1 (B)
Oqo
Quantity Demanded/Supplied
q0 q1
Y
D
D
D1
D1
SPriceP0
0 X
Quantity Demanded/Supplied
Xq0
D
D
D1
D1
S
Price
P0P1
0
(A) (B)
q0q1
D
D S1S
P
rice
P0
S1
S
P1
Quantity Demanded/Supplied
X
SS S1S
1 Op
o Op
1
Oqo Oq
1
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Quantity Demanded/Supplied
P0
S1
S
D
Y
0
S
S1
q0q1
Price
Quantity Demanded/Supplied
P0
q0 X
D
Y
0
S
S1
S1
S
Price
(A) (B)
(A) Opo Oq
o
Oq1 (B) Op
o
Op1 Oq
o
P1
q0 X
S1S1
0
P0
S1
S
YD
S
Price
Quantity Demanded/Supplied
q0 q1 X
S1
S
S1
S
0
P0P1
Y
D
D
Price
q0
q1
S1
S
S1
S
0
P0
Y
D
Price
(A) (B) (C)
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(A) C), Oq
o Oq
1 Op
o B),
DD SS Opo
Oqo
Op1 Oq
2q
1
Op2 q
3q
4
Quantity Demanded/Supplied
P1
P0
P2
S D
Y
X
D
S
q0q2 q4q1q30
Price
III
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Opo Op
1
Op
2
Oq1 Oq
2
q1q2
Quantity Demanded/Supplied
0
P1
P0
P2
S D
Y
X
D S
q0 q2 q3q1
Price
Op
o Op
1
Oqo Oq
1
S1S1 Oq
2
qoq
1 q
2q
1
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0
Quantity Demanded/Supplied
P1
S1
P0
D
Y
D
S
q0 q1q2
S1
Price
X
(Support price or floor price),
Pop2 SS S
1S
1 S
1S
1
Op
1 Oq
1
(=p
op
1) (=p
op
2)
pop
3 p
op
1 p
op
3
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p
op
1/p
op
3
0
P3
P1
S1
P0
q0q1
P2
D
Y
S
S D
Price
Quantity Demanded
S1
SS pop
1
S1S
1
P1
P0
q0 X
S1
S1S
S
0
D
Y
Price
Quantity Demanded/Supplied
P1P0
P2
q0
q1
q1 X
S1 D1
D1
S
S1
S
0
D
D
Y
Price P0
q0
q1 X
S1
S
S1S
0
D
Y
Price
(A) (B) (C)
q2
(A) Op1 Op
o
(C) (B) (DD D
1D
1) D
1D
1 DD
DD D1D
1
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IV
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SS DD
Opo Oqo Oq
2 Oq
1 Oq
2 Oq
1
Oq2 Op
2 Oq
1
Op1 Oq
2 Oq
1
Quantity Demanded/Supplied
0
P1
P0
q2 q0 q1 x
P2
DY S
S
A
E
B
D
H
Price
Quantity Demanded/Supplied
0
P1
P0
q2 q0 q1X
P2
D
YS
S
A
E
B
D
H
Price
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Oq
1 q
oq
1)
Oq2 (q
2q
o)
Oqo)
?? OqoxOp
o
Oq2 Oq
2xOp
2Oq
2Ap
2
Op0 q
2q
o Oq
2xOp
o
Oq2bp
o Op
o
Op1 Op
1xOq
1Oq
1Bp
1
Op0 Oq
1xOq
0
Oq1Op
o
-
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Quantity Demanded/Supplied
0
P1
P0
q2 q0 q1X
P2
D
YS
S
A E
B
D
H
Price
C
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Quantity Demanded/Supplied
Price
q0 q1 q2
S1
S2
CB
A
S2
S0
D0
D0
D1
D1
D2
D2
S0
S1
P2
P1
P0
Do
Do
So
So
S
1S
1 S
2S
2
D
oD
oD
1D
1 S
oS
oS
1S
1 D
1D
1
D2D
2 S
1S
1S
2S
2 D
1D
1 S
1S
1
B Op1 Op
0
D2D
2 S
2S
2C Op
2 Op
1
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