Question: 03
The graph below shows the production and consumption (both in '000 tons) of coconut oil in a country X. Surplus of production over consumption in any year may be exported. The oil can be stored for a maximum period of 2 years after which it becomes unsuitable for use. To meet the consumption demands, any shortfall in production in any year can be imported.
Q1.If, every year from 2016 onwards, consumption is expected to increase by 20% and production by 5%, then in which year would oil need to be imported? Assume any excess production in any year is exported in the same year.
- 2017
- 2018
- 2019
- 2020
Correct Answer: 2018
Q2. Due to improper storage facilities ,50% of the oil produced in 2013 has to be discarded .By how many percent points does the import as a percent of consumption change from 2012 to 2013? Assume all excess oil produced in any year is exported in the same year
- 6.83 Decrease
- 6.83 Increase
- 18.71 Increase
- 26.56 Decrease
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