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In an indifference curve diagram, when the price of a product increases, the decline in quantity demanded that results if consumers utility or welfare is kept constant is referred to as the:

A. Utility effect

B. Budget line effect

C. Substitution effect

D. Income effect

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  1. Indifference curve represents:
  2. Which of the following curves is a rectangular hyperbola?
  3. When elasticity of demand is one (e=1), then following the formula MR=P[1-1/e], the MR will:
  4. Elasticity (E) expressed by the term, 1>E>0, is:
  5. The firms in non-cooperative games:
  6. Under competitive conditions, the industry will be in equilibrium:
  7. According to Saint Thomas Aquinas value is determined by God, but prices by:
  8. Cartel is associated with:
  9. In case of short-run, the supply curve of an industry is the horizontal summation of:
  10. The supply curve for the short-run competitive firm is the same as:
  11. If Cobb-Douglas production function is homogeneous of degree less than one (n
  12. In the case of an inferior good, the income effect:
  13. Slope of a demand curve is:
  14. Engel curves shows that:
  15. General Equilibrium deals with the equilibrium of the:
  16. The marshallian demand curve includes:
  17. The general markets results from the imposition of price ceilings has been:
  18. If a monopolist is producing under decreasing cost conditions, increase in demand is beneficial to the…
  19. According to Leontief technology, there:
  20. Change in quantity demanded (expansion and contraction of demand) is:
  21. Opportunity costs are also known as:
  22. Which of the following models are associated with non-collusive oligopoly?
  23. The coefficient of the price elasticity of demand is computed as the absolute value of the percentage…
  24. In respect of which of the following category of goods is consumers surplus highest?
  25. Law of Variable Proportions is regarding in:
  26. The partial equilibrium model keeps other things:
  27. In monopolistic competition, the cost curves of all firms are:
  28. The game theory takes into consideration:
  29. Quantity demanded or supplied is measured in:
  30. The cost of production is faced by a: