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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.
If '@' denotes 'addition', '#' denotes 'subtraction', '$' denotes 'multiplication' and '%' denotes 'division', then what will be the value of the follow...
If “+” means “minus”, “×” means “divided by”, “÷” means “plus”, and “-“ means then “multiplied by”
210 × 7 –...
If '+' means '-', '×' means '+', '-' means '÷', and '÷' means '×', then what is the value of the expression ' 100 - 10 + 30 × 5 ÷ 2 × 10' ?
...If “+” means “minus”, “×” means “divided by”, “÷” means “plus”, and “-“ means then “multiplied by”
180 × 9 –...
If '÷' means '+', '+' mean '-', 'x' means '÷' and '-' means 'x', then what will be the value of the given expression:
12 – 6 x 2 + 5 ÷ 9
Which of the following interchange of sign would make the given equation correct?
45 × 9 + 5 ÷ 4 = 25
Select the correct combination of mathematical signs to replace the '*' signs and to balance the given equation.
169 * 13 * 30 * 12 * 4 * 18 = 85
What will be the value of expression if the numbers/digits ‘(42)’ and ‘(18)’ are interchanged?
54 ÷ 42 × 10 + 18 – 12 + 20
...If '+' means ' - ', ' X ' means '+', ' - ' means '÷' and '÷' means ' X ', then what is the value of the following expression?
14 ÷ 5 x 63 - 9 ...
If A denote ÷, B denotes x, C denotes + and D denotes -, what is the value of the given expression?
32 B 40 A 8 C 10 D 12