The Price and quantity relationship for an inferior good is:
A) Direct
B) Inverse
C) Positive
D) Indirect
Correct Answer:
Verified
Q1: Measurable utility is the postulate of:
A)Neo-Classical school
B)Ordinalist
Q2: Which of the following is Gossen's first
Q3: In the case of a free good,
Q4: Change in demand due to a change
Q6: In the case of normal goods, the
Q7: Which of the following is a cardinalist
Q8: The convexity of an indifference curve shows:
A)Diminishing
Q9: A movement from one point to another
Q10: In the case of an indifference curve
A)dU/dX>dU/dY
B)dU/dX
Q11: An Indifference Curve to the right of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents