The price of commodity x increase by 40 paisa every year , while the price of commodity y increase by 15 paisa every year . If in 2001, the price of x was RS 4.20 and that of y was RS 6.30 in which year commodity x will cost 40 paisa more than the commodity y .

Q. Price of the commodity increases from

R s . 10

R s . 12

per unit and expenditure on the commodity increases by

20

per cent. Find elasticity of demand. Give a logical support to your answer.

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The property that indifference curves are convex to origin implies that to increase stock of one commodity X by one unit the consumer will:

The correct option is B Give up some units of commodity YThe indifference curves are convex to origin, implying that to increase stock of commodity X by one unit, the consumer will have to give up some units of commodity Y.

The property that indifference curves are convex to origin implies that to increase stock of one commodity $X$ by one unit the consumer will:

The correct option is B Give up some units of commodity $Y$
The indifference curves are convex to origin, implying that to increase stock of commodity $X$ by one unit, the consumer will have to give up some units of commodity $Y$ .