The Price and quantity relationship for an inferior good is:
A) Direct
B) Inverse
C) Positive
D) Indirect
Correct Answer:
Verified
Q5: Saturation point is the point where:
A)TU =
Q6: Measurable utility is the postulate of:
A)Neo-Classical school
B)Ordinalist
Q7: Which of the following is Gossen's first
Q8: In the case of a free good,
Q9: Change in demand due to a change
Q11: In the case of normal goods, the
Q12: Which of the following is a cardinalist
Q13: The convexity of an indifference curve shows:
A)Diminishing
Q14: A movement from one point to another
Q15: In the case of an indifference curve
A)dU/dX>dU/dY
B)dU/dX
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