Assume that Chai Point sells a cup of tea for Rs. 9. On an average of 48 people visit and order a cup of tea at a price of Rs.9. When Chai Point" raises the price to Rs. 12 per a cup of tea, only 42 people visit and order a cup of tea (hint: solve (i) using simultaneous equation)

(i) Assume that demand curve is linear- find the equation for demand curve.

(ii) If the rent paid/week which is Rs. 200 is the fixed cost & variable cost per unit is Rs. 3.00; is this a profitable business?

(iii) How much will be the profit or loss per week with initial and later price?