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If the demand for a commodity is inelastic, an increase in its pice will cause the total expenditure of the consumers of the commodity to
A and B bought two goods for Rs. 6000 and Rs. 4000 respectively. The selling price of B’s goods was 25% more than its cost price whereas the selling price of A’s goods was x% more than its cost price. If the selling price of A’s goods was Rs. 2500 more than the selling price of B’s goods, then find the ratio between selling price of A’s goods and cost price of B’s goods?
The pie chart given below shows the expenditure of a family on six different articles A, B, C, D, E and F in a month. Total expenditure on all these six articles is Rs. 42000. Expenditure on a particular article is shown as a percent of total expenditure on all these six articles. Which of the following statement(s) is/are correct? I. Expenditure on article C is Rs. 5560 more than the expenditure on article A. Il. Ratio of expenditure on article A to the expenditure on article D is 5: 4 respectively.
Consider the following statements
1. Decrease in demand is caused by change in factors other than own price of the commodity.
2. Contraction of demand is caused by decrease in own price of the same commodity.
3. Extension of demand is caused by increase in own price of the same commodity.
Which of the statement(s) given above is/are correct?
The price of commodity X increases by 40 paisa every year, while the price of commodity Y increases by 15 paisa every year. If in 2001, the price of commodity X was TK4.20 and that of Y was TK 6.30, in which year commodity X will cost 40 paisa more than commodity Y?
The price of commodity X increases by 40 paisa every year, while the price of commodity Y increases by 15 paisa every year. If in 2023, the price of commodity X was Tk. 4.20 and that of Y was Tk. 6.30, in which year commodity X will cost 40 paisa more than the commodity Y?
The price of commodity X increases by 40 paise every year, while the price of commodity Y increases by 15 paise every year. If in 2001, the price of commodity X was Rs. 4.20 and that of Y was Rs. 6.30, in which year commodity X will cost 40 paise more than the commodity?
The price of commodity X increases by 60 rupees every year, while the price of commodity Y increases by 20 rupees every year. If in 2002, the price of commodity X was Rs. 320 and that of Y was Rs. 740, in which year commodity X will cost 60 rupees more than the commodity Y ?
The price of commodity X increases by 40 paise every year, while the price of commodity Y increases by 15 paise every year. If in 2001, the price of commodity X was Rs. 4.20 and that of Y was Rs. 6.30, in which year commodity X will cost 40 paise more than the commodity Y ?
From the following determinants of the price elasticity of demand, indicate the correct option for the determinants having a positive relationship with the degree of the price elasticity of demand.
1. Range of substitutes of the commodity
2. Extent of the different uses of the commodity
3. Portion of the income of the buyer spent on the commodity
4. Income group of buyers purchasing the commodity