Question
A government decides to impose a tax on sugary drinks to
discourage consumption due to health concerns. If the demand for sugary drinks is relatively inelastic, what is the likely impact of this tax on: i) Quantity demanded of sugary drinks ii) Tax revenue collected by the governmentSolution
When demand is inelastic, consumers are less responsive to price changes. Therefore, even with the tax-induced price increase, the quantity demanded of sugary drinks will decrease only slightly. However, since the tax is applied to each unit sold, the government will collect more tax revenue due to the relatively stable demand.
Select the set in which the numbers are related in the same way as are the numbers of the following sets. (NOTE: Operations should be performed on the w...
Statements:Â
Some tomatoes are potato.
All carrots are potato.
All potatoes are onion
Conclusions:
I. No carrot ...
Select the option that will come next in the following figure series.
A man starts from point A and walks 12km towards East. He turns right and walks 4km; turns right again and walks 8km. He then takes another right an 7km...
Select the number from among the given options that can replace the question mark (?) in the following series.
5, 6, 10, 19, 35, 60,?
Which two signs should be interchanged to make the equation correct?
12 × 3 ÷ 4 + 6 – 2 = 20
Two statements are followed by two conclusions numbered I and II. Assuming the statements to be true even if they do not conform to real-world knowledge...
Select the figure from among the given options that can replace the question mark (?) in the following series.
Which number will replace the question mark (?) in the following number series?
3, 7, 22, 45, 136, ?, 820
Select the set in which the numbers are related in the same way as are the numbers of the given sets.
(NOTE : Operations should be performed on t...
