Question
A boy can swim in water with a speed of 10 km/hr in
still water. If the speed of the stream is 4 km/hr, what will be the time taken by the boy to cover 70 km downstream?Solution
Downstream Speed = (10 + 4) km/hr = 14 km/hr Time taken = 70/14 = 5 hours
When price elasticity of demand is unity, the total expenditure:
In case of Giffens goods, price effect is
The goods whose demand is not tied with the demand for some other goods are said to haveÂ
Elasticity of demand measures the
In a typical demand schedule, quantity demanded varies
The statement, "The elasticity of demand may be defined as the percentage change in quantity demanded which would result from 1 percent change in price"...
A movement along a demand curve indicates that a different quantity is being demanded
This movement is due to
Which one of these is an exception to the law of demand?
OPEC is an example ofÂ
The reasons for L-shaped long run average cost curve is/are
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