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A does not live on the odd numbered floor and doesn’t live just below of the top floor. We get three possibilities here i.e. Case 1, Case 2 and Case 3. There are two floors gap between A and N, who lives above of the floor in which A lives. There are three persons live between N and M, who lives just above the floor of Y. From the given statements, Q lives below of the floor of Y but not just below. Here Case 2 is ruled out. Both B and Q do not live on ground floor. Z lives just above of the floor of Q. B lives just below of the floor of J. Here, one more case is added i.e. Case 1a.
From the given statements, the number of floors gap between J and M is same as between C and Y. Now Case 1 and Case 1a are eliminated here. So, the final arrangement is such as-
A table indicating various levels of demand at various prices is termed as
Demand analysis includes
Under perfect competition, the long-run equilibrium of the firm is established at
The positive cross elasticity of demand between two products means the two products
When the economist speaks of an increase in demand, he is usually referring to a ____________________
The statement, "The elasticity of demand may be defined as the percentage change in quantity demanded which would result from 1 percent change in price"...
Pricing decision includes
Movement along a demand curve as a result of change in price is known as
From the resource allocation point of view, perfect competition is preferable because
The reasons for L-shaped long run average cost curve is/are