Multiple Choice
Income consumption curve of an inferior commodity is
A) positively sloped
B) backward bending
C) downward slopping straight line
D) showing constant income effect
Correct Answer:
Verified
Correct Answer:
Verified
Q14: Ordinal utility analysis is otherwise known as<br>A)gossens
Q15: An indifference curve represent<br>A)four commodities<br>B)less than two
Q16: Engel curve for giffen good is<br>A)positively sloped<br>B)negatively
Q17: Which method is used by Hicks to
Q18: When individuals income falls (everything remain the
Q19: Hicks Allen indifference theory is based on<br>A)weak
Q20: According to Marshall, The law of diminishing
Q21: 'Higher the indifference curve higher will be
Q22: Marshalian cardinal utility analysis assumes<br>A)marginal utility of
Q24: When price of a product falls, more