economics solution paper 2009

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economics solution paper 2009 Question Papers

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Ans 1. (1) Determination of rent for a shop.
(2)Price determination of cloth by a textile mill.
Ans. 2. If with change in price, There is no
change in demand at all, the demand is said to
be perfectly inelastic.
Ans. 3. It refers to the sum of expenses
incurred on all the fixed factors of production. It remains unchanged irrespective of the level of
output.
Ans. 4. It is caused by fall in the price of the
commodity

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