Question
Goods whose demand increases as their price rises are
known as?Solution
Veblen goods are luxury items for which demand increases as their price rises, as higher prices increase their perceived value or status.
Statements: R < S ≤ T = U; V ≤ W = R; P > U ≥ Q
Conclusions:
I. V < T
II. P > W
III. Q < TStatement: D < M < P = V = E ≥ T > Z
Conclusion: I. P > Z II. D > E
In which of the following expressions will the expression ‘U < W’ be definitely true?
Statements: Q = R; S ≥ T; P ≤ Q; R > V; R > S; T ≥ U
Conclusions:
(i) R > U (ii) V ≥ U (iii) P = R (iv) P < R
...Statement:Â C < P > T = E < R; G > R > A < D
Conclusions:
I. T < G
II. G ≥ P
III. T > A
Statements: N = Q < X ≤ L, L > T = G ≥ E
Conclusions:
I. L ≥ Q
II. G > X
III. L > N
Statements: B > C= D > F < G = J; H > F > I ≥ E
Conclusions:
I. C > E
II. H < G
III. J = H
Statements: B ≤ C = T; Z ≥ N ≥ D > K ≥ T
Conclusions:
I. C < N
II. B ≤ K
III. N > B
...Statements: 1 > 2 ≥ 3 = 4 < 5 ≤ 6; 7 ≥ 8 = 9 < 4 = 10 ≥ 11
Conclusions:
I. 2 ≥ 10
II. 3 < 7
III. 6 > 11
What should come in the place of question mark, in the given expressions to make ‘M < J’ always true?
M = N ≤ O = P ? K= J