Question
In two commodity worlds if one good is
inferior then the other must beSolution
If a good is inferior, then the consumer buys more of it when their income decreases, and less when their income increases.
Let's think about the scenario given. The consumer has two goods available, and when their income decreases, they buy more of both goods. How is this possible? The consumer's budget set has shrunk, so the total value of what they buy must go down, but we're predicting that consumption of each good goes up. We therefore must conclude that it is impossible for both goods to be inferior.
Select the option in which the given shape is embedded (rotation is not allowed).Â
Complete the analogy-
Peacock:India::Bear:?
Select the option that is related to the third word in the same way as the second word is related to the first word.
Potato : Â stem : Gram : ?
'P × Q means that P is the daughter of Q,
P - Q means that P is the sister of Q,
P + Q means that P is the father of Q
Based on th...
A is the good of B, which is the only son of C. D is the husband of C. What does A have to do with C?
Select the correct mirror image of the given figure when the mirror is placed at MN as shown below.
A boy pointing to a man said, "He is the husband of my mother's daughter-in-law." What does that boy have to do with that man?
In a certain code language,
'see their dresses' is coded as 'ti ve su',
'dresses we see' is coded as 'nx ti ve',
'we see their part...
Select the option that is related to the third word in the same way as the second word is related to the first word.
Abandon: Leave ∷ Pensive:?
Which of the following numbers will replace the question mark (?) in the given series?
4, 11, 19, 31, 52, 89, ?
