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A budget line shows:

A. Quantities of commodity X which a consumer could buy with no amount of Y

B. Quantities of commodity Y which a consumer could buy with no amount of X

C. The different combinations of X and Y that the consumer could buy

D. All of the above

Correct Answer : D.


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  1. Consumers are likely to get a variety of similar goods under:
  2. In monopolistic competition, the firms follow:
  3. In measuring price-elasticity:
  4. The monopolist who is producing the same output from two (or more than two) plants is concerned with:
  5. The Substitution Effect (S.E) is always:
  6. The cobweb model will divergent when the slope of:
  7. If we measure the elasticity of demand with the help of the average and marginal revenue, the formula…
  8. A price is a ratio of exchange between:
  9. Price discrimination is possible:
  10. Utility means:
  11. In case of monopoly, the slope of MR is:
  12. In non-constant sum game (non-zero sum game), if there are two parties then:
  13. Utility is a function of:
  14. A demand schedule is shown as:
  15. Marginal utility means:
  16. Returns to scale is a:
  17. The main contribution of Prof. R.G.D.Allen is in the field of:
  18. Which of the following is not a property of indifference curve?
  19. If the price of coffee increases, you would predict that:
  20. In microeconomics, we study:
  21. The production function of homogeneous of degree one (n=1) is also called:
  22. When the slope of a demand curve is infinite (also known as horizontal demand curve) then elasticity…
  23. Which one of the following has been the most influential work of F.H.Knight?
  24. 7.In an economy based on the price system the decision on what shall be produced is made by:
  25. The reserve capacity in administration is advocated on the ground that demand for a product will:
  26. The short-run periods in monopolistic competition are:
  27. Efficient allocation of resources is likely to be achieved under:
  28. Marginal cost curve cuts the average cost curve:
  29. A budget line shows:
  30. An increase in the supply of a commodity is caused by: