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Business Data Management · Quiz 1 · 19 Jul 2026 · May 2026 term

Question 14: Use the above diagram as your geometric guide for the Qu…

Question 14

+2 marksOne correct option

Use the above diagram as your geometric guide for the Question below
The student-run night canteen at IIT Madras faces a sudden supply shock due to a harvest failure in villages near Chennai, causing onion prices to rise. Baseline Equilibrium E is indicated by a green dot in the figure. Based on the graph, what is the initial equilibrium price (P*) per kilogram and the total baseline revenue generated by the onion suppliers?

  1. A

    P* = ₹100; Total Revenue = 0

  2. B

    P* = ₹80; Total Revenue = ₹1,600

  3. C

    P* = ₹50; Total Revenue = ₹2,500

  4. D

    P* =₹50; Total Revenue = ₹5,000

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Correct answer

  • C

    P* = ₹50; Total Revenue = ₹2,500

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Question 14 of 23 in the IIT Madras BS Business Data Management (BDM) Quiz 1 paper sat on 19 Jul 2026, in the May 2026 term (Business Data Management 16 Jul 26). It carries 2 marks.

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