Horizontal Indifference Curve MCQs 1581 to 1585 are here. You can practice these MCQs frequently to prepare for your exams. Stay Connected for more.
Horizontal Indifference Curve MCQs
- If an indifference curve were horizontal (assume X is measured along the horizontal axis and Y along the vertical axis), this would mean that the consumer is saturated with
- Commodity X only
- Commodity Y only
- Both commodity X and commodity Y
- Neither commodity X nor commodity Y
- The statement C = D = 10 utils implies
- An ordinal measure of utility only
- A cardinal measure of utility only
- An ordinal and a cardinal measure of utility
- None of the above
- If the MU if the last unit of X consumed is twice the MU of the last unit of Y consumed, the consumer is in equilibrium only if
- The price of X is twice the price of Y
- The price of X is equal to the price of Y
- The price of X is one half of the price of Y
- Any of the above is possible
- When total utility increases, marginal utility is
- Negative and increasing
- Negative and declining
- Positive and declining
- Which of the following elasticities measure a movement along a curve rather than a shift in the curve?
- The price elasticity of demand
- The cross elasticity of demand
- The income elasticity of demand
- The price elasticity of supply.
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