Start learning 50% faster. Sign in now
Let the initial income of the man be Rs. '20x' and initial expenditure of the man be Rs. '8y'. New income of the man = 20x X 1.25 = Rs. '25x' New expenditure of the man = 8y X 1.125 = Rs. '9y' ATQ; 20x - 8y = 4800 ......... (I) 25x - 9y = 8400 .......... (II) On subtracting 5 X equation (I) from 4 X equation (II), we have; 100x - 100x - 36y + 40y = 33600 - 24000 Or, 4y = 9600 So, y = 2400 So, 20x - 8 X 2400 = 4800 Or, 20x = 4800 + 19200 Or, 20x = 24000 So, x = 1200 So, new income = 1200 X 25 = Rs. 30,000
An economist calculated the cross-price elasticity of demand for nicknacks and gizmos and got -0.5. What can she conclude about the relationsh...
Which of all the following is not an assumption of Marshall Consumer Theory of Demand?
The JAM (Jan-Dhan, Aadhaar, and Mobile) trinity has significantly contributed to which of the following in India?
If Mean is 39, Median is 40, what is the value of Mode?
For the 2 variables x and y with the same mean, the regression equation are y = 5x+b and x=7y +c. Calculate b/c
List – I | Which of the following statements is not true regarding BIS? A consumer has utility function given by : u{x1,x2} = min {2x1+x2, x1+2x2}. Given income m = 100, prices p1 = 20, p2 = 30, the amount of x1 in...
The equilibrium level of income is Refer to the below table and calculate the NNPmp
|