The slope of a budget line is
A) the satisfaction level of both the commodities
B) the income level of the consumer
C) the price ratio of both the commodities under consideration
D) price level of a country
Correct Answer:
Verified
Q10: According to Hicks substitution effect is
A)the movement
Q11: Strong ordering means
A)absence of indifference
B)presence of indifference
C)no
Q12: In the fundamental theorem of consumption and
Q13: If negative income effect is greater than
Q14: As per indifference curve analysis consumer equilibrium
Q16: At the point of tangency the slope
Q17: The slope of a budget line throughout
Q18: The income effect for a commodity is
A)is
Q19: The substitution effect for a commodity is
A)is
Q20: Price effect is
A)income effect - substitution effect
B)substitution
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