Question
The price of sugar has increased by 30%. Sachin has
decided to spend only 17% more than what he initially did on buying sugar. What is the percentage decrease in Sachin's sugar consumption?Solution
Let the initial price of Sachin be Rs. 100 per unit and Sachin's consumption be 10 units.  ∴ Initial amount spent = 100 × 10 = Rs. 1,000  New price of sugar = 130% of 100 = Rs. 130 and new total amount spent = 117% of 1000 = Rs. 1,170  ∴  New consumption = 1170/130 = 9 units  ∴ Decrease in consumption = 10 - 9 = 1 unit  ∴ % decrease = 1/10 × 100 = 10%
Money multiplier equals:
For Cobb-Douglas production function the elasticity of substitution is
The long-run Phillips Curve is ____________ Which indicates
Which labor market outcome is consistent with the Efficiency Wage Theory?
If a constant 60 is subtracted from each of the values of X and Y, then the regression coefficient is
An event in the probability that will never be happened is called as -
Hirschman takes divergent series of investment as a project that :
A producer received ₹ 6,000 when the price of a commodity was ₹ 60 per unit. The receipts increased to ₹ 8,400 when the price increased by ₹ 10....
Let X and Y represent prices in Rs of a commodity in Kolkata and Mumbai respectively. It is given X(bar) = 65, Y(bar) = 67, standard deviation...