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.
(51.99² - 19.05² )÷ ? = 14.11² - 140.33
9.99% of 19.86% of 30.23% of (11999.84 × 9.68) = ?
√1295.98 × √2704 ÷ 899.97 + 1915.375 = ?
A number is first increased by 35% and then decreased by 35%. If the net change in the number is 302.5, then find the original number.
The monthly savings of three individuals 'P', 'Q', and 'R' are such that the average savings of 'P' and 'Q', 'Q' and 'R', and 'R' and 'P' are Rs. 2,000,...
What approximate value will come in place of the question mark (?) in the following question? (Note: You are not expected to calculate the exact value.)...
(?)2 + 6.113 = 25.92 – 19.03
(79.79% of 800.24 - √224.75) × (2/5 of 499.71) ÷ (10% of 600.26) = ?
What approximate value will come in place of the question mark (?) in the following question? (Note: You are not expected to calculate the exact value.)...
65.22 of 359.98% + 459.99 ÷ 23.18 = ?
