Correct Answer: Both statements are true.

Solution : The correct answer is (A) Both statements are true.

Statement 1: If a good is a luxury, its demand is generally elastic. This statement is true. Luxury goods are often associated with higher income levels and are considered non-essential or discretionary purchases. As a result, consumers are more sensitive to changes in the price of luxury goods, and the demand for luxury goods tends to be more elastic.

Statement 2: Luxury goods tend to have more substitutes, making consumers more responsive to changes in price. This statement is also true. Luxury goods often have a variety of substitute products available in the market. When the price of a luxury good increases, consumers have more options to switch to alternative products, which increases their responsiveness to price changes. This higher availability of substitutes contributes to a more elastic demand for luxury goods.

Both statements accurately describe the relationship between luxury goods, price responsiveness, and elasticity of demand.

Hello,

Both MSc Biochemistry and MSc Bioinformatics have their own unique advantages and scope in their respective fields. It ultimately depends on your interests and career goals. MSc Biochemistry focuses on the study of chemical processes in living organisms, while MSc Bioinformatics combines biology, computer science, and statistics to analyze biological data.

Both have a great scope in future, so it's upto you to decide what you want to pursue depending on your interests.

I hope this helps,

Thank you

Hello aspirant,

You can pursue a Ph.D. in biotechnology after earning an M.Sc. in bioinformatics, yes. The Ph.D. program in biotechnology can be completed in three to six years. The candidates' master's degree grades must range from 50 to 56 percent. Admission is typically determined by an entrance exam. The typical course fee ranges from 10,000 to 1,50,000 rupees.

To know much more information, please visit the following link.

https://university.careers360.com/colleges/list-of-phd-in-biotechnology-universities-in-india

Thank you

Hope it helps you

Mentioned below are the points for becoming a Subject Matter Expert:

1. First of all you must have knowledge of Statistics, bioinformatics Computer Science or desired subject in which you want to become subject Matter Expert.
2. Try to search for opportunities online. Most of the companies are hiring subject Matter Expert online. These companies include Vedantu, Filo etc.
3. Fill in the application form of Subject Matter Expert and appear for the test and clear it with qualifying scores.
4. Once your test and interview round is approved then you can become a Subject Matter Expert and can earn well.

hlwo aspirant

hope you are doing good

B.Tech in Bioinformatics is a four-year undergraduate course that combines the study of information technology and computer science with the study of biology and medicine to understand the working of the human body.

the subject you are going to study in this course are

General studies and principles of physics and chemistry

Algorithms and numerical methods

Basic maths used for further studies in the field of bioinformatics

In-depth study of cellular biology

General principles of basic engineering

Drawing techniques in engineering

Software programmings

Biomolecules

Genetics and genetic engineering

Concepts in biotechnology

Concepts in microbiology

Java

Immunology

Data handling in medicine

Medicinal aspects of genetics

Mechanisms of the biological reactions

Application of biotechnology

Database management

for more information regarding bioinformatics admission fees, college, cut off of top colleges, please visit the given below link.

https://www.careers360.com/courses/b-tech-in-bioinformatic

hope this is helpful for you

best of luck