Question:
There are two goods, Good X and Good Y. Suppose there is an increase in the price of Good X and decrease in the price of Good Y simultaneously. Choose the correct diagram that shows its effect.
There are two goods, Good X and Good Y. Suppose there is an increase in the price of Good X and decrease in the price of Good Y simultaneously. Choose the correct diagram that shows its effect.
Updated On: May 20, 2024
Hide Solution
Verified By Collegedunia
The Correct Option is C
Solution and Explanation
The correct option is (C).
Was this answer helpful?
0
0
Top Questions on Goods and Services
- Identify the type of merger in which the two companies are producing different goods and services for one specific finished product.
- CUET (UG) - 2023
- Economics
- Goods and Services
- Match LIST I with LIST IIChoose the correct answer from the options given below
LIST I
LIST II
A Tea and Coffee I Complementary goods B Car and Fuel II Inferior goods C Low grade cereal food III Substitute goods D Good quality wheat IV Normal good - CUET (UG) - 2023
- Economics
- Goods and Services
- Which of the following are the examples of complemental), goods ?
(A) pen and ink
(B) tea and sugar
(C) tea and coffee
(D) ball pen and gel pen
(E) shoes and socks
Choose the correct answer from the options given below :- CUET (UG) - 2023
- Economics
- Goods and Services
- Match LIST I with LIST IIChoose the Correct answer from the options given below
LIST I
LIST II
A Quotas I Monetary assistance given by government for production activities B Import substitution II Government protects domestic industries from foreign competition C Tariffs III Tax on imported goods D Subsidy IV Specify the quantity of goods which can be imported - CUET (UG) - 2023
- Economics
- Goods and Services
- The value of all goods and services can be expressed in monetary units.
This statement refers to which function of money ?- CUET (UG) - 2023
- Economics
- Goods and Services
View More Questions
Questions Asked in CUET exam
- A molecule X associates in a given solvent as per the following equation:
X ⇌ (X)n
For a given concentration of X, the van’t Hoff factor was found to be 0.80 and the
fraction of associated molecules was 0.3. The correct value of ‘n’ is:- CUET (UG) - 2024
- Solutions
- Who devised the concept of Intelligence Quotient (IQ)?
- CUET (UG) - 2024
- Psychological attributes
- Two pipes A and B can fill a tank in 32 minutes and 48 minutes respectively. If both the pipes are opened simultaneously, after how much time B should be turned off so that the tank is full in 20 minutes?
- CUET (UG) - 2024
- Time and Work
- If \(A = \begin{bmatrix} 3 & 2 \\ -1 & 1 \end{bmatrix} \quad \text{and} \quad B = \begin{bmatrix} -1 & 0 \\ 2 & 5 \\ 3 & 4 \end{bmatrix},\)then \((BA)^T\) is equal to:
- CUET (UG) - 2024
- Matrices
- The spin-only magnetic moment of Hexacyanomanganate(II) ion is.........BM
- CUET (UG) - 2024
- Magnetic moment
View More Questions