Question
A man, a woman and a boy can do a work in 4, 8, 32 days
respectively. How many boys are required with 1 man and 1 woman to complete the same work in 1/4 day?Solution
1M 1W 1B 4 8 32 LCM = 32 units So ratio of eff: = 8 : 4 : 1 Let number of boys be x who are working with 1 man & 1 women So (8+4+1*x)*(1/4)= 32 12+x = 128 S o x = 116
A rightward shift in supply curve indicates
When AR is constant, MR is
A high value of cross-elasticity indicates that the two commodities are
Statement “Price is the amount of money and/or other item with utility needed to acquire a product" is given byÂ
A movement along a demand curve indicates that a different quantity is being demanded
This movement is due to
Elasticity of demand is based on which of the following factors?
Pricing decision includes
Market with one buyer and one seller is called
The goods whose demand is not tied with the demand for some other goods are said to haveÂ
Which one of these is an exception to the law of demand?
