Question
Raj purchased a television at the price of Rs. 50,000
and sold it at a loss of 12%. With this money, he again purchased a new television and sold that at a profit of 28%. Find the profit earned by him in the whole transaction.Solution
ATQ, Money obtained by Raj through first sale = (100 - 12)% of 50,000 = (0.88) x 50,000 = Rs. 44,000 Money obtained by Raj through second sale = (100 + 28)% of 44,000 = (1.28) x 44,000 = Rs. 56,320 Net profit earned by Raj = 56,320 - 50,000 = Rs. 6,320
Which one of these is an exception to the law of demand?
When AR is constant, MR is
Which one of the following is not the function of a managerial economist?
A movement along a demand curve indicates that a different quantity is being demanded
This movement is due to
If the firms under perfect competition have different costs, abnormal profits can be earned in the long run only by
From the resource allocation point of view, perfect competition is preferable becauseÂ
Economics of scale means
In case of Giffens goods, price effect is
A rightward shift in supply curve indicates
Pricing decision includes
