Multiple Choice
'Higher the indifference curve higher will be level of satisfaction'. The statement is
A) always true
B) always false
C) sometimes true and sometimes false
D) true only if price effect is positive
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
Q22: Marshalian cardinal utility analysis assumes<br>A)marginal utility of
Q23: Income consumption curve of an inferior commodity
Q24: When price of a product falls, more