Multiple Choice
As per indifference curve analysis consumer equilibrium is attained when
A) slope of indifference curve is constant
B) slopes of both indifference curve and income price line are equal
C) slopes of both indifference curve and income price line are opposite
D) both income price line and indifference curve are parallel.
Correct Answer:
Verified
Correct Answer:
Verified
Q2: If negative income effect is greater than
Q3: According to Marshall consumer surplus is:<br>A)total utility
Q4: Which of the following statement is TRUE
Q5: Strong ordering means<br>A)absence of indifference<br>B)presence of indifference<br>C)no
Q6: The income effect for a commodity is<br>A)is
Q7: Which of the following statements is true<br>A)hicksian
Q8: For a giffen good, when price falls<br>A)demand
Q9: Inferior goods are the goods with<br>A)falling income
Q10: If negative income effect is greater than
Q11: Price effect is<br>A)income effect - substitution effect<br>B)substitution