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If the prices of goods rise then:

A. The real income of consumer falls

B. The real income of consumer rises

C. The real income of a consumer remains constant

D. The real income of consumer becomes zero

Correct Answer : A.


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  4. Equilibrium of a discriminating monopolist requires the fulfillment of which one of the following conditions?
  5. We get constant returns to scale when:
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  8. If two households have identical preferences but different incomes then:
  9. Robbins definition of economics was criticised by:
  10. The line from the origin to a point on an isoquant shows:
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  12. Price discrimination is possible:
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  14. In monopolistic competition, because of difference in choices, the firm charges:
  15. Repetition of a game (Repeated Game):
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  18. By increasing the price of its products above those of its competitors, a perfectly competitive seller:
  19. In the case of an inferior good, the income effect:
  20. If cross-elasticity of one commodity for another turns out to be zero, it means they are:
  21. The pay-off matrix shows:
  22. Price mechanism has also given the name:
  23. If the demand curve is vertical then its slope is:
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  25. The ordinary demand curve is also called:
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  27. The cost curves of the firm shift due to changes in:
  28. Price discrimination occurs when:
  29. Which of the following curves is a rectangular hyperbola?
  30. The effect of consumer boycotts usually is: