The income effect for a commodity is
A) is always positive
B) is always negative
C) depends upon price effect
D) determines the nature of the commodity
Correct Answer:
Verified
Q13: If negative income effect is greater than
Q14: As per indifference curve analysis consumer equilibrium
Q15: The slope of a budget line is
A)the
Q16: At the point of tangency the slope
Q17: The slope of a budget line throughout
Q19: The substitution effect for a commodity is
A)is
Q20: Price effect is
A)income effect - substitution effect
B)substitution
Q21: For a giffen good, when price falls
A)demand
Q22: Inferior goods are the goods with
A)falling income
Q23: Indifference curves are
A)always parallel
B)may be parallel
C)may not
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