Question 1

At the point of tangency the slope of indifference curve is

Accepted Answer

A) differ from point to point 
B) is equal on the other side of the mid point 
C) is the same 
D) is increasing 
A) differ from point to point 
B) is equal on the other side of the mid point 
C) is the same 
D) is increasing

Question 2

The substitution effect for a commodity is

Accepted Answer

A) is always positive 
B) depends upon the nature of the commodity 
C) depends upon price effect 
D) sometimes negative and sometimes positive 
A) is always positive 
B) depends upon the nature of the commodity 
C) depends upon price effect 
D) sometimes negative and sometimes positive

Question 3

Revealed preference theory assumes

Accepted Answer

A) weak ordering 
B) strong ordering 
C) constant ordering 
D) multiple ordering 
A) weak ordering 
B) strong ordering 
C) constant ordering 
D) multiple ordering

Question 4

If both the products X & Y are normal goods

Accepted Answer

A) slopes down towards right 
B) slopes up towards right 
C) slopes up towards left 
D) slopes down towards left 
A) slopes down towards right 
B) slopes up towards right 
C) slopes up towards left 
D) slopes down towards left

At the point of tangency the slope of indifference curve is

The substitution effect for a commodity is

Revealed preference theory assumes

If both the products X & Y are normal goods

Indifference Curve Analysis and Consumer Theory

Cost Theory and Production Possibility Curve Analysis

Classical Economic Theory

Macroeconomic Theory and Models

Macroeconomic Equilibrium and Concepts

Keynesian Economics and Related Concepts

National Income and Keynesian Economics

Economics and Economic Theory

Economic Concepts and Theories

Macroeconomics and Economic Theories

Economics and Economic Methods

Economics and Social Science

Production and Costs

Demand Analysis and Utility Theory

Indifference Curves, Ordering, Wealth of Nations, and More

Economics Questions on Demand and Supply

Elasticity of Supply and Demand

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Exam 1: Consumer Theory and Utility

At the point of tangency the slope of indifference curve is

The substitution effect for a commodity is

Revealed preference theory assumes

If both the products X & Y are normal goods

Indifference Curve Analysis and Consumer Theory

Cost Theory and Production Possibility Curve Analysis

Classical Economic Theory

Macroeconomic Theory and Models

Macroeconomic Equilibrium and Concepts

Keynesian Economics and Related Concepts

National Income and Keynesian Economics

Economics and Economic Theory

Economic Concepts and Theories

Macroeconomics and Economic Theories

Economics and Economic Methods

Economics and Social Science

Production and Costs

Demand Analysis and Utility Theory

Indifference Curves, Ordering, Wealth of Nations, and More

Economics Questions on Demand and Supply

Elasticity of Supply and Demand

Filters