Question:

At the point of tangency the slope of indifference curve is

A.

differ from point to point

B.

is equal on the other side of the mid point

C.

is the same

D.

is increasing

Answer» c. is the same

Question:

Which one of the following is roughly equal to national income?

A.

GDP

B.

NNP

C.

GNP

D.

SDP

Answer» b. NNP

Question:

Which of the following statements has been drawn by inductive method?

A.

A consumer will buy from the cheapest market

B.

All businessmen wish to buy at low price and sell at high price

C.

A private firm will try to maximize its profits

D.

The larger the stock of money with a person, the lower is the utility that he

Answer» b. All businessmen wish to buy at low price and sell at high price

Question:

Which would definitely not be an example of price discrimination?

A.

a theater charges children less than adults for a movie.

B.

universities charge higher tuition for out-of-state residents.

C.

a doctor charges for services according to the income of patients.

D.

an electric power company charges less for electricity used during off-peak hours when

Answer» d. an electric power company charges less for electricity used during off-peak hours when