Question
Three Statements are given followed by two conclusions
numbered I and II. Assuming the statements to be true, even if they seem to be at variance with commonly known facts, decide which of the conclusions logically follow(s) from the statements. Statements: Some poems are horses. All horses are toys. All toys are ships. Conclusions: I. All toys being poems is a possibility. II. Some horses are ships.Solution
A perfectly competitive firm was given, P = 60 and TC = Q2 + 8Q + 10. Now price decreases to 54, what is the change in profit?
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Which of the following statements is not true regarding ICRA?
What will happen when supply elasticity is less than demand elasticity?
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