ECONOMICS (CBSE/UGC NET)

ECONOMICS

ELASTICITY OF DEMAND

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
What is the relationship between two good if Ex =-2
A
Substitutes
B
No relationship
C
Complements
D
None of the above
Explanation: 

Detailed explanation-1: -When two goods are complements, they experience joint demand-the demand of one good is linked to the demand for another good. Therefore, if a higher quantity is demanded of one good, a higher quantity will also be demanded of the other, and vice versa.

Detailed explanation-2: -The two’s complement of a negative number is the corresponding positive value, except in the special case of the most negative number. For example, inverting the bits of −5 (above) gives: 0000 0100.

Detailed explanation-3: -2’s complement is used for representing signed numbers and performing arithmetic operations such as subtraction, addition, etc. The positive number is simply represented as a magnitude form. So there is nothing to do for representing positive numbers.

Detailed explanation-4: -Complementary goods are goods/services that are typically used together, for example keyboard and computers, tennis balls and rackets, and milk and cookies.

There is 1 question to complete.