The advantage of using indifference curves rather than marginal utilities is:

A. We do not need to attach util values to consumption

B. Consumers can attain higher utility

C. It takes into account how much income the household has

D. We can determine how much of one good the consumer is willing to sacrifice in order to consume one more unit of another

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

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  1. Least cost combination of two factor inputs is achieved at a point where:
  2. The word ECONOMICS is derived from the Greek terms meanings:
  3. In monopoly, the relationship between average revenue and marginal revenue curves is as follows:
  4. The main contribution of Prof.Robbins is in the field of:
  5. The number of sellers in duopoly is:
  6. Price is measured in:
  7. Nash Equilibrium is stable:
  8. The least cost combination of factors x , y and z will generally be the point at which:
  9. The optimal strategy for a player is termed as:
  10. Loanable funds theory of Interest was developed by:
  11. When price increases and with it the total outlay on a commodity also increases, it is a case of:
  12. The firm is at equilibrium where:
  13. Demand is consumers:
  14. In case of income effect, the level of consumers satisfaction rises when:
  15. Total costs are:
  16. The general form of Cobb-Douglas production function is:
  17. The main objective of the firm is to:
  18. Demand for a commodity is elastic when it has
  19. Which of the following has more elastic demand curve?
  20. In Prisoners Dillemma, the players are:
  21. The Hicksian demand curve includes:
  22. For monopolistic competitive firm:
  23. The elasticity of substitution measures the percentage change in the ratio of inputs when any producer…
  24. The demand curve of giffen goods will be:
  25. Under monopolistic competition, the products sold by the firms are:
  26. If the slope of the isoquant is equal to the slope of isocost, then isoquant is:
  27. Price elasticity of demand can be measured in the following way:
  28. A firm enjoys maximum control over the price of its product under:
  29. According to Cobb-Douglas, in production function the marginal product of labor is:
  30. Monopolistic firm can fix: