Question
___ is the Team
Leader. Answer the questions based on the information given below: There are six employees H, I, J, K, L and M in a same company. Designation of these employees are MD, Project Manager (PM), Software Engineer (SE), Team Leader (TL), Director (DR) and LABOUR. Each of them has different number of pens (2, 3, 4, 6, 7 and 8). The SE, MD and LABOUR have prime number of pens.LABOUR has one pen less than K. J has four pens more than the MD.L has fewer pens than M but not the lowest. K doesn’t have 8 pens. DR has more pens than the PM but not the highest. H is the SE.Solution
1. LABOUR has one pen less than K.J has four pens more than the MD. K doesn’t have 8 pens. So, LABOUR has either 2 or 3 pens. J has either 7 or 6 pens 
2. H is the SE, this is not possible in case I, so case I is rejected. 3. L has fewer pens than M but not the lowest. So, H has 7 pens. L has 3 pens, M has 8 pens. I has 2 pens and is the MD. 
4. DR has more pens than the PM but not the highest. So, J is the DR, K is the PM and thus, M is the TL. The final table is given below: 
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"...
 The above curve is a
If the firms under perfect competition have different costs, abnormal profits can be earned in the long run only by
Who introduced the concept of elasticity of demand?
When the economist speaks of an increase in demand, he is usually referring to a ____________________
Pricing decision includes
A movement along a demand curve indicates that a different quantity is being demanded
This movement is due to
Movement along a demand curve as a result of change in price is known asÂ
Under price discrimination, price will be higher in the market where demand is
Shifts in demand curve as shown in the figure below represents
Relevant for Exams:
