Question
In a model with two goods, x & y, with x plotted on the
horizontal axis, the price consumption curve generated by changing the price of x is parallel to the x – axis. This implies thatSolution
If PCC (Price consumption curve) is horizontal (due to change in price of x), it means Y is not changing and only X in changing. Equation of Budget line is Px.X + Py.Y =M. In this case, total expenditure on X remains same (even if there is change in price of X) and hence price elasticity is -1 for good X.
Select the most appropriate option to fill in the blank.
The government should take steps to ______ pollution.
The special campaign featuring the ferocious, talking dinosaur has been ___________ by the United Nations Development Programme to urge more climate act...
While hiking the mountains of Nepal, a British Hiker irked a tea seller by bargaining for what she thought was steeply priced tea. At 150 Nepalese Rupee...
Choose the appropriate answer.
The statue, which was declared as a new ___________ of an antique, was recovered hours before it was scheduled to be shipped to Malaysia.
Just a wall separates it from Mangalavanam, forested with mangroves and tall trees, home to migratory birds which ___________ Kochi from afar.
In each of the questions below, a sentence is given with two blanks, indicating that some parts are missing. Identify the correct pair of words that fit...
- The following sentences contains a blank. Choose the most appropriate word or phrase from the given options to complete the sentence grammatically and cont...
It’s important to _______ when negotiating a contract.
- The given question has one blank indicating that something has been omitted. Choose the word for the given options that could fit in the blank correctly. <...
