In economics, If two goods are complements, then the cross elasticity of demand is negative. That means a good's demand is increased when the price of another good is decreased. Conversely, the demand for a good is decreased when the price of another good is increased. It is opposite of substitute goods.
The demand curve facing a perfectly competitive firm is a horizontal straight line equal to the equilibrium price of the entire market because a perfectly competitive firm can sell all units brought to market at the same price.
You are given a question and two statements. Identify which of the statements is/are necessary,Sufficient to answer the question. M, A, N and K are standing in a row. Based on the following information, if we aimnge shortest to tallest, who is standing last? Statements: 1. A is shorter than K 2. M is shorter than A
A) Statements 1 and 2 together are not sufficient
B) Statement 1 and 2 together are sufficient to solve
C) Statements 1 alone is sufficient
D) Statement 2 alone is sufficient
A) Statements 1 and 2 together are not sufficient
B) Statement 1 and 2 together are sufficient to solve
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