Home

Other things remaining the same, when a consumers income increases his equilibrium point moves to:

A. A lower indifference curve

B. A lower PPC curve

C. Remains on same indifference curve

D. A higher indifference curve

Correct Answer : D.


Download Objective type questions of Basics of Economics PDF

Visit our PDF store

Get all objective type questions of Basics of Economics MCQ

Also checkout these categories

Geography MCQ Alkyl and Aryl Halides MCQ Digital Electronics MCQ Chemical Bonding and Molecular Structure MCQ Internal Combustion MCQ Banking MCQ Human reproductive system MCQ Phylum - Porifera MCQ Statement & Assumption MCQ Transmission of Heat MCQ Rearrangement Set 1 MCQ Simple Interest MCQ

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

Submit
Load More..
You can do it
  1. In a socialist (communist) economy the invisible hand:
  2. The income consumption curve (ICC) is the locus of points of consumer equilibrium resulting:
  3. Gold is bought and sold in a:
  4. Cartel is associated with:
  5. If the demand curve is vertical then its slope is:
  6. Each short run average cost curve:
  7. The Purchasing Power Parity (PPP) Theory is presented by:
  8. Which of the following pairs of commodities is an example of substitutes?
  9. We can measure consumers surplus with the help of
  10. The cournot model is a model of:
  11. An iso-product (an isoquant) curve slopes:
  12. The number of sellers in oligopoly are:
  13. If the commodity is normal then Income Effect (I.E) is:
  14. At the point where a straight line demand curve meets the quantity axis (x-axis), elasticity of demand…
  15. In case the two commodities are complements, cross elasticity will be:
  16. When the demand curve is rectangular hyperbola, it represents:
  17. Under pure monopoly, there will be:
  18. Isocost line shows the combinations of labor and capital where a firms budget is:
  19. The ordinal approach was presented by:
  20. A typical demand curve cannot be:
  21. Supply and demand changes have their most rapid impact in:
  22. Price-taker firms:
  23. A firm is a sum of persons who convert:
  24. In the case of an inferior good, the income effect:
  25. In cournot model, firms sell:
  26. The MC curve cuts the AVC and ATC curves:
  27. Pure monopoly exists:
  28. At low prices, demand is likely to be:
  29. The normal long-run average cost curve is influenced by the:
  30. The main contribution of David Ricardo is in the field of: