Question
Consider the following statements: Statement (A):
During winter, the air quality in Delhi is high. Statement (R): In the winter season, the dust particles in the air increase due to motor vehicles, which causes an increase in air pollution. Choose the correct answer from the codes below:Solution
• Statement (A) is incorrect because, in winter, the air quality in Delhi deteriorates due to the increase in dust particles and other pollutants. • Statement (R) is true, as the concentration of dust particles increases in winter due to motor vehicles and other pollutants.
If the firms under perfect competition have different costs, abnormal profits can be earned in the long run only by
In case of Giffens goods, price effect is
From the resource allocation point of view, perfect competition is preferable becauseÂ
Shifts in demand curve as shown in the figure below represents
A movement along a demand curve indicates that a different quantity is being demanded
This movement is due to
When the economist speaks of an increase in demand, he is usually referring to a ____________________
Elasticity of demand measures the
Pricing decision includes
Which one of the following is not the function of a managerial economist?
Elasticity of demand is based on which of the following factors?