Other things being equal a decrease in demand can be caused by
A) a fall in price of the commodity
B) a fall in income of the consumer
C) a rise in price of the substitute
D) none of these
Correct Answer:
Verified
Q10: Indifference curve is always
A)concave to the origin
B)convex
Q11: Engel curve for giffen good is
A)positively sloped
B)negatively
Q12: Marginal utility is
A)always zero
B)increases at a diminishing
Q13: Total utility is
A)the sum total of marginal
Q14: When Total utility is increasing at an
Q16: When price of a product falls, more
Q17: "Utility or satisfaction is a subjective concept;
Q18: Ordinal utility analysis is otherwise known as
A)gossens
Q19: Ordinal utility analysis Was developed by
A)j.r.hicks &
Q20: Total utility curve
A)always rises
B)first falls then rises
C)always
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