uppose a consumer must choose between the consumption of sandwiches and pizza. If we measure the quantity of pizza on the horizontal axis and the quantity of sandwiches on the vertical axis and if the price of a pizza is Rs10 and the price of a sandwich is Rs5, then the slope of the budget constraint is ?

Related Mcqs:

indifference curves for perfect substitutes are ?

A. right angles B. bowed outward C. straight lines D. nonexistent E. bowed inward...

Suppose we measure the quantity of good X on the horizontal axis and the quantity of good Y on the vertical axis If indifference curves are bowed inward, as we move from having an abundance of good X to having an abundance of good Y, the marginal rate of substitution of good Y for good X (the slope of the indifference curve) ?

A. rises B. stays the same C. could rise or fall depending on the relative prices of the two goods. D. falls...

If an increase in a consumer’s income causes the consumers to decrease her quantity demanded of a good, then the good is ?

A. a substitute good B. a normal good C. a complementary good D. an inferior 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 Suppose that the price of a pair of socks falls from €5 to €2 The substitution effect is represented by the movement from point ?

A. Z to point X B. X to point X C. X to point Z D. Y to point X...

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...