Calculate the simple mean and the weighted mean of the prices obtained by weighing each price by the quantity demanded.

Calculate (i) the unweighted mean of prices and (ii) the mean obtained by weighting each price by the quantity consumed.

Give the meaning of market price.

When the price of X doubles , its quantity demanded falls by 60 percent . Calculate its price elasticity of demand . What should be the percentage change in price so that its quantity demanded doubles.

Calculate (a) unweighted and (b) weighted mean price from the following :

Calculate price elasticity of demand:

What is mean price.

Calculate the price elasticity of demand for a commodity when its price increase by 25% and quantity demanded falls from 150 units to units.