Question
Two goods will be classified as ______ if the
cross-price elasticity between them is negative.Solution
The cross elasticity of demand is an economic concept that measures the responsiveness in the quantity demanded of one good when the price for another good changes . Complementary goods  are products which are used together like toothbrush and toothpaste. The cross elasticity of demand for complementary goods is negative i.e. as the price of one good goes up, the demand for both goods fall.
Read the given statements and conclusions carefully. Assuming that the information given in the statements is true, even if it appears to be at variance...
Read the given statements and conclusions carefully. Assuming that the information given in the statements is true, even if it appears to be at varianc...
Statements: Some racks are tables.
Some tables are chairs.
No chair is a book.
Conclusions: I. Some racks are chairs.
<...Statement:
All Mathematics are Economics
Only a few Mathematics are Chemistry
No Chemistry is Physics
Conclusion:
I. ...
Statements:
All Sheep are Peacock.
 All Peacock are Deer.
 Mostly Sheep are Hen.
 Conclusion:
I. Few...
Statements:
Only a few hands are ears
Some ears are eyes
All eyes are arms
Conclusions:
I. No arm is a hand
II...
Statements:
Some tigers are dog
Only a few dogs are cats
All cats are lions
Only a few lions are horses
Conclusion...
Statements:
Only potato are tomato
Some potato are brinjal
Only brinjal are radish
Conclusion:
I. Some tomato are rad...
Statements: Hands # Leg Arms % Leg Ear & Leg Eyes # Ear
Conclusions:
I. Hands % Arms
II. Eyes ≤ Ear
III. Arms $ Ear
IV. Eyes & Hands
In the question below there are three statements followed by two conclusions I and II. You have to take the three given statements to be true even if t...
