1. The price of Meghdoot post card is

Answer: Rs.0.25

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MCQ-> DIRECTIONS for questions:These questions are based on the situation given below:Recently, Ghosh Babu spent his winter vacation on Kyakya Island. During the vacation, he visited the local casino where he came across a new card game. Two players, using a normal deck of 52 playing cards, play this game. One player is called the Dealer and the other is called the Player. First, the Player picks a card at random from the deck. This is called the base card. The amount in rupees equal to the face value of the base card is called the base amount. The face values of Ace, King, Queen and Jack are ten. For other cards, the face value is the number on the card. Once, the Player picks a card from the deck, the Dealer pays him the base amount. Then the dealer picks a card from the deck and this card is called the top card. If the top card is of the same suit as the base card, the Player pays twice the base amount to the Dealer. If the top card is of the same colour as the base card (but not the same suit) then the Player pays the base amount to the Dealer. If the top card happens to be of a different colour than the base card, the Dealer pays the base amount to the Player. Ghosh Babu played the game 4 times. First time he picked eight of clubs and the Dealer picked queen of clubs. Second time, he picked ten of hearts and the dealer picked two of spades. Next time, Ghosh Babu picked six of diamonds and the dealer picked ace of hearts. Lastly, he picked eight of spades and the dealer picked jack of spades. Answer the following questions based on these four games.If Ghosh Babu stopped playing the game when his gain would be maximized, the gain in Rs. would have been
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MCQ-> Read the passage given below and answer the following questionsFirms are said to be in perfect competition when the following conditions occur: (1) many firms produce identical products; (2) many buyers are available to buy the product, and many sellers are available to sell the product; (3) sellers and buyers have all relevant information to make rational decisions about the product being bought and sold; and (4) firms can enter and leave the market without any restrictions—in other words, there is free entry and exit into and out of the market.A perfectly competitive firm is known as a price taker, because the pressure of competing firms forces them to accept the prevailing equilibrium price in the market. If a firm in a perfectly competitive market raises the price of its product by so much as a penny, it will lose all of its sales to competitors. When a wheat grower, wants to know what the going price of wheat is, he or she has to go to the computer or listen to the radio to check. The market price is determined solely by supply and demand in the entire market and not the individual farmer. Also, a perfectly competitive firm must be a very small player in the overall market, so that it can increase or decrease output without noticeably affecting the overall quantity supplied and price in the market.A perfectly competitive market is a hypothetical extreme; however, producers in a number of industries do face many competitor firms selling highly similar goods, in which case they must often act as price takers. Agricultural markets are often used as an example. The same crops grown by different farmers are largely interchangeable. According to the United States Department of Agriculture monthly reports, in 2015, U.S. corn farmers received an average price of $6.00 per bushel and wheat farmers received an average price of $6.00 per bushel. A corn farmer who attempted to sell at $7.00 per bushel, or a wheat grower who attempted to sell for $8.00 per bushel, would not have found any buyers. A perfectly competitive firm will not sell below the equilibrium price either. Why should they when they can sell all they want at the higher price?Source: Principles of Economics, Download for free at http://cnx.org/content/col11613/latest.According to the passage, why is a perfectly competitive firm a price taker?
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MCQ-> Two traders, Chetan and Michael, were involved in the buying and selling Of MCS shares over five trading days. At the beginning of the first day, the MCS share was priced at Rs 100, while at the end of the fifth day it was priced at Rs 110. At the end of each day, the MCS share price either went up by Rs 10, or else, it came down by Rs 10. Both Chetan and Michael took buying and selling decisions at the end of each trading day. The beginning price of MCS share on a given day was the same as the ending price of the previous day. Chetan and Michael started with the same number of shares and amount of cash, and had enough of both. Below are some additional facts about how Chetan and Michael traded over the five trading days.• Each day if the price went up, Chetan sold 10 shares of MCS at the closing price. On the other hand, each day if the price went down, he bought 10 shares at the closing price.• If on any day, the closing price was above Rs 110, then Michael sold 10 shares of MCS, while if it was below Rs 90, he bought 10 shares, all at the closing price.If Chetan sold 10 shares of MCS on three consecutive days, while Michael sold 10 shares only once during the five days, what was the price of MCS at the end of day 3?
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