The slope at any point on an indifference curve is known as ?

Related Mcqs:

Which of the following statements is not true with regard to the standard properties of indifference curves ?

A. Indifference curves are downward sloping B. indifference curves are bowed outward C. Indifference curves do not cross each other D. Higher indifference curve is preferred to lower ones...

Which of the following is true about the consumer’s optimum consumption bundle? At the optimum ?

A. the slope of the indifference curve equals the slope of the budget constraint B. the indifference curve is tangent to the budget constraint C. the relative prices of the two goods equals the marginal rate of substitution D. none of these answers are true E. all of these answers are true...

If an increase in a consumer’s income causes the consumer to increase his quantity demand of a good, then the good is ?

A. a complementary good B. an inferior good C. a normal good D. a substitute good...

Refer to Exhibit 4, Suppose that the consumer must choose between buying socks and belts Also suppose that the consumer’s income is €100 A pair of socks is ?

A. an inferior effect B. a Geffen good C. a normal good D. none of these answers...

If income where to double and prices were to to double the budget line would ?

A. stay the same B. rotate inward C. shift outward in a parallel fashion D. rotates outward E. shift inward in parallel fashion...