Consider the given statement/s to be true and decide which of the given conclusions/assumptions can definitely be drawn from the given statement. Statements: 1. All cycles are ducks. 2. All ducks are swans. Conclusions: I. All swans are cycles. II. Some swans are cycles.
If quantity of a good demanded increases from 200 to 250 then the average income of the population increases from Rs 20,000 to Rs 30,000, find Arc Income elasticity of demand?