Question
How many of them earn more than
Lalit? Study the following information carefully and answer the given questions. Chetan, Deepak, Farhan, Gaurav, Harish, Jai and Lalit are seven friends who studied in three management institutes A, B and C. They have opted for one out of three specialisation, viz. Marketing, Finance and Production with at least two of them in each specialisation. No two person have the same combination of institute and specialisation. The Marketing specialised from B earns the maximum. Deepak studied in institute C with Production specialisation and earn more than only Chetan and Gaurav. Farhan study in institute A with Marketing and earns less than only Harish and Lalit. Jai studied in institute C with Finance and earns more than Deepak but less than Farhan. Lalit studied in institute A with Finance specialisation. Gaurav, a Productionspecialised , studied in institute B and is not the least earner among them. Chetan is a Finance specialised.Solution
(i) The Marketing specialised from B earns the maximum. Deepak studied in institute C with Production specialisation and earn more than only Chetan and Gaurav. (ii) Farhan study in institute A with Marketing and earns less than only Harish and Lalit. Jai studied in institute C with Finance and earns more than Deepak but less than Farhan. (iii) Lalit studied in institute A with Finance specialisation. Gaurav, a Production specialised, studied in institute B and is not the least earner among them. Chetan is a Finance specialised.
Break-even analysis can also be termed as
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
