Question
When the price of a commodity decreases, and its demand
curve forms a rectangular hyperbola, what happens to the total expenditure on that commodity?Solution
This is because when the demand curve is a rectangular hyperbola, the price elasticity of demand is equal to one (unit elastic). Therefore, a decrease in price is exactly offset by an increase in quantity demanded, leaving total expenditure unchanged.
A bitter pill
Directions : An idiom/phrase is given in bold. Following this idiom/phrase are given three sentences, which use the given idiom/phrase. The idiom/phra...
On the issue of marriage, Sarita put her foot down .
Beating Around The Bush
- Choose the option which best expresses the meaning of the idiom/phrase in bold in the sentence.
Despite their differences, the two business rivals ... Fill in the blank given below using the correct idiom.Â
The company's unethical practices finally caught up with them, and the scandal became...
In the following question, four alternatives are given for the Idiom/Phrase given in bold in the sentence. Choose the alternative which best expresses ...
Between A Rock And A Hard Place
Fill in the blank given below using the correct idiom.
Mary's advice was _______________ and helped me avoid a major mistake.
You are required to identify the words that are contextually similar to the phrase given in bold and mark that as your answer. If none of the options ...
