A. a complementary good
B. an inferior good
C. a normal good
D. a substitute good
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
A. Indifference curves are downward slog
B. indifference curves are bowed outward
C. Indifference curves do not cross each other
D. Higher indifference curve is preferred to lower ones
A. 2
B. 10
C. 1/2
D. 5
A. right angles
B. bowed outward
C. straight lines
D. nonexistent
E. bowed inward
indifference curves for perfect substitutes are ? Read More »
Consumer Theory vs. Real Consumers, Economics Mcqs A. an indifference curve
B. the budget constraint
C. the marginal rate of substitution
D. the consumption limits
The limit on the consumption bundles that a consumer can afford is known as ? Read More »
Consumer Theory vs. Real Consumers, Economics Mcqs A. SMC, LMC
B. SMC above SAVC, LMC above LAC
C. SMC below SAVC, LMC above LAC
D. SMC below SAVC, LMC bellow LAC
A. price is greater than short run average total cost
B. price is between short run average total cost and short run average variable cost
C. price is less than short run average variable cost
D. profit is zero
In the short run a firm will produce zero output if ? Read More »
Costs, Economics Mcqs, Supply And Perfect Competition A. Short run opportunity costs, profit
B. Short run variable costs, profit
C. Short run average variable costs, profit
D. Short run average variable costs, profit run average fixed costs
Short run average total costs are equals to the sum of ____ and _____? Read More »
Costs, Economics Mcqs, Supply And Perfect Competition A. greater than average cost, greater than average cost
B. less than average cost, greater than average cost
C. less than average cost, less than average cost
D. greater than average cost, less than average cost
