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.Management Sciences
A. The ceteris paribus effect
B. The diminishing marginal utility effect.
C. The substitution effect
D. The income effect
Related Mcqs:
- Average income increase from Rs20,000 p.a to Rs 22,000 p.a Quantity demanded per year increases 5000 to 6000 units. Which of the following is correct ?
- A. Demand is price inelastic B. The good is inferior C. Income elasticity is -2 D. The product is normal...
- Increase unemployment benefits and less incentive to work would ?
- A. shift aggregate supply to the right B. shift aggregate supply to the left C. shift aggregate demand to the right D. shift aggregate demand to the left...
- If both marginal cost and marginal revenue increase, a firm ?
- A. Should increase output B. Should reduce output C. will require further information on how to respond D. Should not change output...
- According to the law of diminishing utility ?
- A. Utility is at a maximum with the first unit B. Increasing units of consumption increase the marginal utility C. Marginal product will fall as more units are consumed D. Total utility will rise at a falling rate as more units are consumed...
- Marginal revenue is the ________ when output is __________?
- A. Change in average revenue, increased B. Change in total revenue, increase by one unit C. change in average revenue, increased by one unit D. change in total revenue increased...
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