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Engel curves shows that:

A. How commoditys consumption rate differs at various levels of price

B. How commoditys consumption rate differs at various levels of satisfaction

C. How commoditys consumption rate differs at various levels of income

D. How commoditys consumption rate differs at various levels of taxes

Correct Answer : C.


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  1. Which of the following formulae explain the term average revenue?
  2. When price decreases and with it the total outlay on a commodity also decreases, it is a case of:
  3. A vertical supply curve parallel to the price axis implies that the elasticity of supply is:
  4. The consumer is in equilibrium at the where:
  5. In monopoly, the relationship between average revenue and marginal revenue curves is as follows:
  6. In 1890, Principles of Economics was written by:
  7. The Input-Output Analysis was originated by:
  8. In monopolistic competition, the customers are attached with one product because of:
  9. In long run, a firm can change:
  10. In monopolistic competition, the firm take advantage due to customers:
  11. A demand curve is not related to:
  12. The law of variable proportions comes into being when:
  13. An inferior commodity is one whose quantity demand decreases when income of the consumer:
  14. In economic term water is a:
  15. Elasticity of Substitution (s) is defined as:
  16. With the decrease in marginal valuation of a specific commodity, the price offered by the people:
  17. Which is the other name that is given to the average revenue curve?
  18. The alternative of profit maximization theory is:
  19. In arriving at stable equilibrium in cournot model, if one firm decreases output the other firm will:
  20. Even in the long-run equilibrium, the pure monopolist can make abnormal profits because of:
  21. The general form of Cobb-Douglas production function is:
  22. Utility means:
  23. Loanable funds theory of Interest was developed by:
  24. Price discrimination is possible:
  25. The market demand for any commodity is the:
  26. An effective price ceiling usually results in:
  27. The slutsky demand curve includes:
  28. Money spent by a firm on the purchase of capital equipment is:
  29. Law of Diminishing Marginal Utility is practically untrue because:
  30. Total Utility (TU) curve: