Multiple Choice
Price effect is
A) income effect - substitution effect
B) substitution effect - income effect
C) income effect + substitution effect
D) income effect + substitution effect- negative effects
Correct Answer:

Verified
Correct Answer:
Verified
Q11: Indifference curve is always<br>A)concave to the origin<br>B)convex
Q12: "Utility or satisfaction is a subjective concept;
Q13: Inferior goods are the goods with<br>A)falling income
Q14: The basic doctrine of consumers surplus is
Q15: If negative income effect is less than
Q16: The deductive method is also called<br>A)abstract<br>B)analytical<br>C)priori method<br>D)all
Q18: The minimum point of ATC is at..............
Q19: Other things being equal a decrease in
Q20: According to Marshall consumer surplusis:<br>A)total utility -
Q21: An Essay on the Nature and Significance