Question
A jeweler sells a necklace for Rs. 4000 with a 25%
profit and a bracelet for Rs. 1200 with a 20% profit. If the necklace is sold for Rs. 3500, what is the minimum price at which he must sell the bracelet to not incur a loss?Solution
ATQ, Given: Necklace sold for Rs. 4000 at a 25% profit. Bracelet sold for Rs. 1200 at a 20% profit. Assumption: Cost price of the necklace = Rs.'n' and cost price of the bracelet = Rs.'b'. Calculation for the necklace 
Calculation for the bracelet : 
If the necklace is sold for Rs.3500, the loss = 3200−3500=−300. Total cost = 3200+1000 = 4200. To avoid any loss = 3500+p = 4200 ⇒ p = 700 He must sell the bracelet for at least Rs.700 to avoid any loss.
Which of the following statements is/are true about public goods?
I. Rivalrous in consumption
II. Non-excludability
III. Positive marginal cost
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