Covid-19 backed by Lockdown generated many economic anomalies. The weekly change in the price of the mask in a town is given below. Time March 1 st week March 2 nd week March 3 rd week March 4 th week April 1 st week April 2 nd week April 3 rd week April 4 th week May1 st week Price (₹) 100 150 175 200 200 175 70 50 50 Forecast the Expected price of Mask for the 2 nd week of May. Strangely the Actual price of Mask in the city in the 2 nd week of May was 10 rupees. State at least four economic reasons why your calculated Expected price of Mask did not match the Actual price of Mask.
Covid-19 backed by Lockdown generated many economic anomalies. The weekly
change in the
Time March
1 st
week
March
2 nd
week
March
3 rd
week
March
4 th
week
April
1 st
week
April
2 nd
week
April
3 rd
week
April
4 th
week
May1 st
week
Price
(₹)
100 150 175 200 200 175 70 50 50
Strangely the Actual price of Mask in the city in the 2 nd week of May was 10 rupees.
State at least four economic reasons why your calculated Expected price of Mask did
not match the Actual price of Mask.
Now assume when the price of the Mask was 200 rupees per unit 5 lakh customers
bought it. As the price reduced to 50 rupees only 1 lakh customers bought it.
Calculate
case, and how?
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