Mcqs on indifference curve
Web12)Which of the following is not the property of indifference curve: (a)Higher the indifference curves higher the level of satisfaction (b)Two indifference curves cannot intersect each other (c) Indifference curve is concave to origin (d)Indifference curve is downward sloping 13)An Indifference curve slope down towards right since more of one ... WebThe indifference curve is a static thing based on preferences. However, there are an infinite number of indifference curves, each with a different value of utility. What the indifference curve says is that every point along it gives the same value of utility. All other points, not along that indifference curve give different amounts of utility.
Mcqs on indifference curve
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Web10 apr. 2024 · Each point on an indifference curve indicates that a consumer is indifferent between the two and all points give him the same utility. Basic Properties Of Indifference Curves: Indifference curves slope negatively or slope downwards from the left to the right. Indifference curves are convex to the origin. Indifference curves cannot intersect ... Web17 aug. 2024 · MCQ Questions on Indifference Curve 1. Moving along an indifference curve the (a) Consumers prefer some of the consumption points to others. (b) Marginal …
Web2 apr. 2024 · An indifference curve is a contour line where utility remains constant across all points on the line. In economics, an indifference curve is a line drawn between … WebTwo simple reasons: 1) You can afford it, and 2) it will give you the most happiness (aka utility). In this video, Arizona State University’s Professor Joana Girante will further explain the concept consumer optimization and how it applies to your everyday life. She’ll also cover why your points of consumer optimization will never intersect ...
WebFor an individual who consumes only two goods, X and Y, the opportunity cost of consuming one unit of X in terms of how much Y must be given up is reflected in. ? the individual’s marginal rate of consumption. ? the slope of the individual’s budget constraint. ? the slope of the individual’s indifference curve. ? none of the above. WebConsumer Equilibrium and Demand Class 11 MCQ Economics are covered in this Article. Economics MCQs Test contains 45 questions. Skip to content. CBSE Class 12 Notes. Economics Class 12; ... Indifference curves. Answer. Answer: D) Indifference curves . 40. Slope of demand curve is _____ a) P/Q b) ∆Q c) ∆P d) ∆P/∆Q. Answer.
WebECON 3070 Intermediate Microeconomic Theory: Practice Multiple-Choice Questions 1 ECON 3070 Intermediate Microeconomic Theory Practice Multiple-Choice Questions
Web1 1. Normally a demand curve will have the shape: A Horizontal B Vertical C Downward sloping D Upward sloping Answer: Downward sloping 2. Which one is the assumption of law of demand? A Price of the commodity should not change B Quantity demanded should not change C Prices of substitutes should not change D Demand curve must be linear … cumbria waste group indeedhttp://www.eagri.org/eagri50/AECO141/lec04.pdf cumbria walks with dogsWebIndifference Curve Quizzes. Check your mastery of this concept by taking a short quiz. Browse through all study tools. Video Lessons (3) Quizzes ( 3 ) Evaluating Curves With Monotonicity ... cumbria waste management grouphttp://cws.cengage.co.uk/nicholson/students/mcqs/ch02.htm eastview vet clinic nyWebMCQs: Suppose we measure the quantity of good X on the horizontal axis and the quantity of good Y on the vertical axis If indifference curves are bowed inward, as we move from having an abundance of good X to having an abundance of good Y, the marginal rate of substitution of good Y for good X (the slope of the indifference curve) ? - (A) rises - (B) … cumbria view plumbing and heatingWebDetailed Solution for Test: Theory Of Consumer Behaviour- 1 - Question 24. The indifference curves cannot intersect each other. It is because at the point of tangency, the higher curve will give as much as of the two commodities as is given by the lower indifference curve. This is absurd and impossible. eastview villageWebQuestion : An indifference curve is related to. a) Choice and preferences of the consumer. b) Consumer’s income. c) Prices of goods X and Y. d) Total utility from goods X and Y. Answer : Choice and preferences of the consumer . Question : The slope of indifference curves is measured by. a) Marginal rate of transformation. b) Marginal rate of ... eastview volleyball mn