If positive income effect is less than the substitution effect: the product will be
Price effect = substitution effect + Income effect. If positive income effect is less than substitution effect then price effect will be negative. So, the product will be inferior good.
A vessel is full of 80-liter milk 16 liter is taken out and replaced by water, again 20-liter milk is taken out and replaced by water and again 10liter ...
If 35% of a certain number is equal to 3/4th of another number, what is the ratio between the numbers?
Ratio of number of book to number of pen sold by a shopkeeper is 25:18, respectively while ratio of number of pen to number of pencil sold by the same s...
A box contains the coins of 5p, 10p and 25p are in the ratio 3:4:6. If there is Rs. 82 in all, how many 10p coins are there?
In a store, there is an inventory of 4,800 caps. Black caps constitute 41(2/3) % of this total, with the rest being blue caps. The caps that have been ...
Monthly savings of ‘Q’ is 20% more than that of ‘P’ and is 54% less than monthly income of ‘P’. Monthly expenditure of ‘Q’ is Rs. 5730 a...
Rs 11,550 has to be divided between X, Y & Z such that X gets 4/5 of what Y gets and Y gets 2/3 of what Z gets. How much more does Z get over X (in Rs)?
Gold, Silver and Bronze invested money in the ratio of 1/2:1/3:1/4 in a business. After 4 months, Gold doubled his investment and after 6 months, Silver...
If 50% of a certain number is equal to 3/5th of another number, what is the ratio between the numbers?
Rs. 11200 was divided among A, B and C in the ratio 2:3:3. B kept Rs. 1000 for himself, gave Rs. 600 to his mother and divided the remaining money among...
