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Question
Identify the correct pair of items from the following Columns I and II:
Column I | Column II |
(1) Budget Line | (a) Normal goods |
(2) Bajra | (b) Inferior goods |
(3) Consumer equilibrium | (c) Luxurious goods |
(4) Elastic Demand | (d) M = Px*x + py*y |
Options
1 - (a)
2 - (b)
3 - (c)
4 - (d)
MCQ
Match the Columns
Solution
2 - (b)
Explanation:
- Budget Line = P = Px.x + Py.y
- Bajra = Inferior goods
- Consumer equilibrium: Price ceiling
- Elastic Demand: Luxurious goods
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