Price Consumption Curve MCQs 1586 to 1590

Price Consumption Curve MCQs 1586 to 1590 are here. You can practice these MCQs frequently to prepare for your exams. Stay Connected for more.

Price Consumption Curve MCQs

  1. If the price-consumption curve for a commodity is horizontal at all relevant prices for it, the demand curve for this commodity is
    • Horizontal
    • Positively sloped
    • Vertical
    • A rectangular hyperbola
  2. The Engel curve for a Giffen good is
    • Negatively sloped
    • Positively sloped
    • Vertical
    • Horizontal
  3. If the MRSxy for individual A exceeds the MRSxy for individual B, it is possible for individual A to gain by giving up
    • X in exchange for more Y from B
    • Y in exchange for more X from B
    • Either X or Y
    • We cannot say without additional information.
  4. At equilibrium, the slope of the indifference curve is
    • Equal to the slope of the budget line.
    • Greater than the slope of the budget line
    • Smaller than the slope of the budget line
    • Either equal, larger, or smaller than the slope of the budget line
  5. A consumer who is below the personal budget line (rather than on it)
    • Is not spending all personal income
    • Is spending all personal income
    • May or may not be spending all personal income
    • Is equilibrium
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Quiz with Answers

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Economics 1586-1590

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If the price-consumption curve for a commodity is horizontal at all relevant prices for it, the demand curve for this commodity is

2 / 5

The Engel curve for a Giffen good is

3 / 5

If the MRSxy for individual A exceeds the MRSxy for individual B, it is possible for individual A to gain by giving up

4 / 5

At equilibrium, the slope of the indifference curve is

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Price Consumption Curve MCQs

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