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Management Business Statistics Difficulty: Medium

Long run equilibrium price of a perfect competitive firm is always Which of the following statements are true? 1. WTO rules are mainly applied to trade in goods but other areas such as services, intellectual property etc are not covered by them. 2. GATT had contracting parties, whereas WTO has members. 3. The dispute settlement system under WTO is much more efficient, speedy and transparent unlike the GATT system which was highly susceptible to blockages. In an accounting measurement, income and investment is divided to calculate According to the Payment of Wages Act, 1936, if ten or more employed persons acting in concert absent themselves without due notice and without reasonable cause, what is the maximum amount that can be deducted from their salary? The following are the two statements relating to the theory of probability. Indicate the statements being correct or incorrect. Statement I The probability of the joint occurrence of independent events A and B is equal to the probability of event A multiplied by the probability of event B or vice-versa . Statement II The probability of the joint occurrence of independent event A and dependent event B is equal to the probability of event A multiplied by the conditionalprobability of event B when event A has occurredor vice-versa .