Home
Earn $100 Online Daily. Work From Home. Click Here

What is the correct answer?

4

The income consumption curve (ICC) is the locus of points of consumer equilibrium resulting:

A. Only when the price of commodity X changes

B. Only when the price of commodity Y changes

C. Only when the consumers income is varied

D. None of the above

Share this question with your friends
Correct Answer :

C. Only when the consumers income is varied


Related Questions

If X and Y are close substitutes, a fall in price of X will lead to: The short-run supply curve of the perfectly competitive firm is given… When price increases and with it the total outlay on a commodity also… Economic problems arise because: At low prices, demand is likely to be: If a person behaves against the laws of economics then: In respect of which of the following category of goods is consumers surplus… Cartel is associated with: The Law of Equi-Marginal Utility refers to: In first degree price discrimination, monopolist takes away : General Equilibrium deals with the equilibrium of the: The study of economic theory for the sake of certain objective is called: In Edgeworth model, prices oscillate between: Rotten eggs are: Compared to perfect competition, a monopolist will charge: If the demand curve is vertical then its slope is: In 1932, The nature and significance of economic science was written by: The difference between average total cost and average fixed cost shows: Used cars are sold in: If the demand for good is less elastic and government levied a tax per… For a few products such as insulin for diabetics,: The external economies of scale experienced by a firm include the: When a consumer is satisfied with his spending pattern, he is said to… The elasticity of demand is equal to slope of demand function divided… After reaching the saturation point consumption of additional units of… Most of the supply curves with which the average consumer deals are: When in a market, the number of buyers is very large and the number of… Because the price elasticity of demand for OPEC oil is approximately .08,… The relationship between MC and MP shown by the marginal cost concept… Which describes a competitive market?

Also checkout

Urothelial tumors of the upper & lower urinary tracts MCQ Inequalities MCQ Industrial Engineering & Production Management Test MCQ Rearrangement Set 3 MCQ Chemical Bonding and Molecular Structure MCQ Refrigeration & Air-Conditioning MCQ Computer Fundamental MCQ Building Construction MCQ Origin of Life and Organic Evolution MCQ Engineering Mechanics MCQ Kinetic Theory of Gases MCQ Nature and Scope of Biology MCQ