Suppose there are only two normal goods in the economy, X and Y. If price of good X increases, which would be the correct statement from below?

Other things remaining unchanged, market demand for a good might increase if 1. price of its substitute increases 2. price of its complement increases 3. the good is an inferior good and income of th…

Other things remaining constant, the market supply for a good increases if : 1. its price increases. 2. price of its factors of production decreases. 3. price of other goods decreases. Select the cor…

Given below are two statements, one is labelled as Assertion (A) and the other as Reason (R). Assertion (A): Consumers can bargain below Maximum Retail Price (MRP). Reason (R): MRP is a price a selle…

Which one of the following statements for a firm's equilibrium in Perfect Competition is not correct?

With reference to the Consumer Disputes Redressal at district level in India, which one of the following statements is not correct ?