Question
In two commodity worlds if one good is
inferior then the other must beSolution
If a good is inferior, then the consumer buys more of it when their income decreases, and less when their income increases.
Let's think about the scenario given. The consumer has two goods available, and when their income decreases, they buy more of both goods. How is this possible? The consumer's budget set has shrunk, so the total value of what they buy must go down, but we're predicting that consumption of each good goes up. We therefore must conclude that it is impossible for both goods to be inferior.
In each of the following questions select the related letter/word/figure/number from the given alternatives.
25 : 175 : : ? : 160
Select the option that is related to the third number in the same way as the second number is related to the first number.
53: 636 :: 51: ?
Select the word-pair in which the two words are related in the same way as the two words in the following word-pair.
Author : Book
Four numbers have been given, out of which three are alike in some manner and one is different. Select the number that is different.
Which set of letters when sequentially placed at the gaps of the given letter series shall complete it?
C L _ I M C _ A I M C L _ _ M CL _ I M
Select the number pair which is related in the same way as the two numbers of the following pair:
64 : 25
Select the option that is related to the third number in the same way as the second number is related to first number and the sixth number is related to...
- Select the option that is related to the third term in the same way as the second term is related to first term and the sixth term is related to the fifth ...
Select the option that is related to the fifth number in the same way as the second number is related to the first number and the fourth number is rela...
Select the option that is related to the third number in the same way as the second number is related to the first number.
13 : 2366 :: 9 : ?
