A fall in income of the consumer, other things being equal, causes:

Related MCQs

• If average variable costs fall as output grows:
• A fall in the price of the commodity holding everything else constant results in:
• A fall in the market demand, supply remaining the same results in:
• Who considered Political Economy as “an enquiry into the nature and causes of the wealth of nations”?
• Which of the following causes an increase in supply:
• An increase in market supply, demand remaining the same causes:
• In the case of a free good, the consumer will be in equilibrium when:
• Commodities bought in larger quantities when income rises are called:
• If income effect works in the same direction to that of substitution effect, the good is a:
• If income effect works in the direction opposite to that of substitution effect, the good is not: