GIPE sample paper 2

[neha:)]

In 12th.. Compare MC of both plants. Since MC 1 < MC 2, production will be done only using plant 1. So cost = Y square.

[neha:)]

Oh actually I am not sure of what I have done.. I just thought that doubling the price of X2 would keep the price ratio same.. So with new income, the budget constraint would just shift out parallely..and no one would be worse off..

[econ14]

[neha:)]

Thanks! Could you send the ans key of paper 3 as well...I have posted it in the other thread...

[neha:)]

How to do this one?
What is the probability that a value chosen at random from a particular population is larger than the median of the population?
a. 0.25
b. 1
c. 0.5
d. 0.67