Question
Six persons A, B, C, D E and F are sitting around a
circle facing the centre. A sits third to the left of E. B is not an immediate neighbour of A. Only one person sits between C and D, who is not an immediate neighbour of B. F sits second to the left of B. What is the position of C with respect to F?Solution
A sits third to the left of E. If E sits at place no. 1, then A will sit at place no. 4. B is not an immediate neighbour of A. B cannot sit place no. 3 and 5. Only one person sits between C and D, who is not an immediate neighbour of B. F sits second to the left of B. If B sits at place no. 2, then F will sit at place no. 6. As D is not an immediate neighbour of B. so he cannot sit at place no. 3. So he will sit at place no. 5 and C will sit at place no. 3.
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When price elasticity of demand is unity, the total expenditure:
Economics of scale means
OPEC is an example ofÂ
Pricing decision includes
Under perfect competition, the long-run equilibrium of the firm is established at
When AR is constant, MR is
Statement “Price is the amount of money and/or other item with utility needed to acquire a product" is given byÂ
Who introduced the concept of elasticity of demand?
A movement along a demand curve indicates that a different quantity is being demanded
This movement is due to