Question
Statements: All Bikes are Cars. Some Cars are
scooty. Conclusions:I. Some Bikes are scooty. II. Some Cars are Bikes. III. Some Cars are not Bikes. In each of the questions below are given two statements followed by three conclusions numbered I, II and III. You have to take the given statements to be true even if they seem to be at variance with commonly known facts. Read all the conclusions and then decide which of given conclusions logically follows from the given statements disregarding commonly known facts.Solution
A + I = No conclusion. Hence, conclusion I will not follow. All Bikes are Cars (A) ⇒ conversion ⇒ Some Cars are Bikes. Hence, only conclusion II will follow but conclusion III will not follow.
When AR is constant, MR is
Movement along a demand curve as a result of change in price is known asÂ
The reasons for L-shaped long run average cost curve is/are
OPEC is an example ofÂ
Information for pricing decision involves
Diamond-water paradox establishes the fact that
The goods whose demand is not tied with the demand for some other goods are said to haveÂ
If the firms under perfect competition have different costs, abnormal profits can be earned in the long run only by
Demand analysis includesÂ
Market demand for any good is a function of the