The price of Darjeeling tea (in rs./kg) is 100 + 0.10 n, on the nth day of 2007 (n = 1, 2, ..., 100), and then remains constant. On the other hand, the price of Ooty tea (in rs./kg) is 89 + 0.15n, on the nth day of 2007 (n = 1, 2, ..., 365). On which date in 2007 will the prices of these two varieties of tea be equal?

Tea worth Rs. 126 per kg and Rs. 135 per kg are mixed with a third variety in the ratio 1 : 1 : 2. If the mixture is worth Rs. 153 per kg, the price of the third variety per kg will be:*Rs. 169.50Rs. 170Rs. 175.50Rs. 180

There are three varieties of tea – I, II, III – available in the market. Mani bought a certain quantity of each variety. The average cost per kg of varieties I and II for the quantities he bought worked out to be ₹50. The same for varieties II and III is ₹60 and that for varieties I and III is ₹68. Which of the following cannot be the average cost per kg of all the three varieties of tea that he bought?

A shopkeeper blends two varieties of tea costing Rs. 12 and Rs. 9 per kg in the ratio 7:5. He sells the blended variety at the rate of Rs. 15.5 per kg. His percentage gain in the transaction is: (approximate)

Assume that in the market for tea there is a downward sloping demand curve and an upward sloping supply curve. Suppose that drought occurs in Sri Lanka, the world’s major tea growing area. In addition, scientists in Australia discover that drinking tea can improve an individual’s health. In this situation in Australia we would expect:Group of answer choicesThe equilibrium price of tea to increase and equilibrium quantity may go up or down or remain the same.The equilibrium price of tea to decrease and equilibrium quantity may go up or down or remain the same.The equilibrium quantity of tea to increase and equilibrium price may go up or down or remain the same.The equilibrium quantity of tea to decrease and equilibrium price may go up or down or remain the same.None of the above

Foreign TradeIndia produces tea in high quantities and has a comparative advantage in it. Now imagine that the demand for Indian tea rises by a significant level in the global markets and Indian tea producers starts exporting tea in extremely high quantities in order to gain maximum benefits. What will be the impact of this on the Indian tea consumers?Tea in the domestic market will become more expensive.Tea in the domestic market will become cheaper.Tea prices in the domestic market will be unaffected.