Question
For goods x1 and x2 with prices P1 and P2, if
dx1/dP2 is positive then,Solution
For substitutes, if price of one good increase the demand for the other good increases and vice-versa.
A black and a red dice are rolled. Find the conditional probability of obtaining a sum greater than 9, given that the black die resulted in a 5.
A bag contains 14 black and 16 white balls. One ball is drawn at random. What is the probability that the ball drawn is white?
Determine the probability that when a hand of 7 cards is drawn from a box of 52 cards, it consists at least 3 kings?
A box contains 6 red, 4 blue, 2 green and 4 yellow pens. Two pens are picked at random, what is the probability that one is blue and one is yellow?
The likelihood that Maya secures a place in college D is 90% and in college E is 85%. Maya's order of preference is 'D', then 'E', and finally 'F'. Assu...
Two cards are drawn at random from a standard deck of 52 cards. What is the probability of drawing at least one queen?
Atul and Bhuvan play a game where each is asked to select a number from 1 to 9. If the two numbers same, both win a prize. The probability that they wil...
A jar contains 54 marbles each of which is blue green or white. The probability of selecting a blue marble at random from the jar is 1/3 and the probabi...
In a lottery, there are 11 prizes and 22 blanks. A lottery is drawn at random. What is the probability of getting a prize?
...A 5-digit number is created using the digits 2, 3, 4, 5, and 6 without repetition. What is the probability that the number is divisible by 5?
