Multiple Choice
Which method is used by Hicks to eliminate the income effect when price of a product is changed
A) compensating variation in income
B) the cost difference
C) the over compensation effect
D) substituting variation in price
Correct Answer:

Verified
Correct Answer:
Verified
Q12: When Total utility is increasing at an
Q13: A consumer reaches equilibrium when<br>A)marginal utility is
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
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