Q. An indifference curve slopes down towards right since more of one commodity and less of another result in: A. Same satisfaction ...
READ MORE +Q. An indifference curve slopes down towards right since more of one commodity and less of another result in: A. Same satisfaction ...
READ MORE +Q. The consumer is in equilibrium at a point where the budget line: A. Is above an indifference curve B. ...
READ MORE +Q. The elasticity of substitution between two perfect substitutions is: A. Zero B. Greater than zero ...
READ MORE +Q. Which one is not a assumption of the theory of demand based on analysis of indifference curves? A. Given scale of preferences as between different combinations of two goods ...
READ MORE +Q. The budget-line is also known as the: A. Iso-utility curve B. Production possibility line ...
READ MORE +Q. In the case of a Giffen good, the demand curve will be: A. Horizontal B. Downward-slping to the right ...
READ MORE +Q. If regardless of changes in its price, the quantity demanded of a commodity remains unchanged, then the demand curve for the commodity will be: A. Horizontal ...
READ MORE +Q. In the case of an inferior good, the income elasticity of demand is: A. Positive B. ...
READ MORE +Q. Total utility is maximum when: A. Marginal utility is zero B. Marginal utility is at its highest point ...
READ MORE +Q. In respect of which of the following category of goods is consumer's surplus highest? Giffen goods NecessitiesLuxuries Prestige goods Answer: Necessities
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