Answer the questions

QUESTION 40. Suppose we make only one change in the above situation: Person 1 lexicographically prefers y and 2 lexicographically prefers .r. The vector (p1, p5.) is a competitive equilibrium vector of prices if and only if (a)pr=1=py (b)p1>0andpy>0 BEE 2013 A 01 15 (Clpnp (d)10y=a-,>0 QUESTION 41. Consider two disjoint events A and B in a sample space S. Which of the following is correct? (a) A and B are always independent (b) A and B cannot be independent (c) A and B are independent if exactly one of them has positive probability (d) A and B are independent if both of them have positive probability QUESTION 42. A bowl contains 5 chips, 3 marked $1 and 2 marked $4. A player draws 2 chips at random and is paid the sum of the values of the chips. The player's expected gain (in $) is (a) less than 2 (b) 3 (:2) above 3 and less than 4 (d) above 4 and less than 5 QUESTION 43. Consider the following two income distributions in a 10 person society. A : (1000,1000,1000,1000,1000,1000,1000,2000,2000,2000) and B : (1000,1000,1000,1000,1000,2000,2000,2000,2000,2000). Which of the following statements most accurately describes the relationship between the two distributions? (3.) The Lorenz curve for distribution A lies to the right of that for distri- bution B (b) The Lorenz curve for distribution 3 lies to the right of that for distri- bution A (c) The Lorenz curves for the two distributions cross each other (d) The Lorenz curves for the two distributions are identical for the bottom half of the population QUESTION 44. A certain club consists of 5 men and 5 women. A 5- member committee consisting of 2 men and 3 women has to be constituted. Also, suppose that Mrs. F refuses to work with Mr. M. How many ways are EEE 2013 A 01 16 there of constituting a 5-member committee that ensures that both of them do not work together? (a) 50 (b) 76 (c) 108 (d) None of the above