Multiple Choice Questions on Consider the following statements about the product lsquo A rsquo in the economy 1 Factor cost of a ........... for UPSC Civil Services Examination (General Studies) Preparation

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Multiple Choice Questions

Consider the following statements about the product lsquo A rsquo in the economy 1 Factor cost of a ...........

Economic Affairs Agricultural Marketing and Prices
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    Consider the following statements about the product ‘A’ in the economy:

    1.Factor cost of a product is 100/- rupees

    2.Indirect Taxes for that product is 20/- rupees

    3.Subsidies of the product is 5/- rupees from the government

    4.Depreciation of the product is 3/- rupees

    With the help of the above facts calculate market price of the product:

     115/-

    Correct Answer

    125/-

    Incorrect Answer

    85/- 

    Incorrect Answer

    112/

    Incorrect Answer
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    Explanation:

     115/-

    The market price of product 'A' is calculated by adding the factor cost (100/-) to indirect taxes (20/-) and subtracting subsidies (5/-), resulting in a market price of 115/- rupees. Therefore, the correct option is 1: 115/-.

     

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