The slope of a budget line throughout its length 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
Q12: In the fundamental theorem of consumption and
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
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
Q21: For a giffen good, when price falls
A)demand
Q22: Inferior goods are the goods with
A)falling income
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