Hello,
with a VITEEE 202 rank of 2015, securing Bioinformatics under category 1 at VIT Vellore is unlikely, as the expected cutoff for category 1 is between ranks 650 to 700. however, you have a strong chance of admission under category 2, which typically includes ranks up to 3000. while category 2 entails higher tuition fees than category 1, it still offers a good opportunity to pursue bioinformatics at VIT Vellore.
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Question : Statement 1: If a good is a luxury, its demand is generally elastic.
Statement 2: Luxury goods tend to have more substitutes, making consumers more responsive to changes in price.
Option 1: Both statements are true.
Option 2: Both statements are false.
Option 3: Statement 1 is true, and statement 2 is false.
Option 4: Statement 1 is false, and statement 2 is true.
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