The marginal utility curve of income curve is a straight line for

Related MCQs

• When the expected utility is greater than utility of the certail income
• Marginal utility for money is positive in case of
• Income consumption curve of an inferior commodity is
• Hicks and Allen believed that utility:
• Total utility is
• “Utility or satisfaction is a subjective concept; therefore it could only be ranked”. The statement supports
• Inferior goods are those whose income effect is:
• If negative income effect is greater than positive substitution effect : the product will be
• The slope of indifference curve is equal to:
• Why is indifference curve convex to origin?