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The Substitution Effect (S.E) is always:

A. Negative

B. Zero

C. Positive

D. Infinite

Correct Answer : A.


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  2. Time Preference Theory of Interest was presented by:
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  8. The nominal income of a consumer is income in terms of:
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  10. If a commodity sold under monopoly is got free of cost, then MC will be:
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  13. In substitution effect, we:
  14. The short-run supply curve of the perfectly competitive firm is given by:
  15. The normal long-run average cost curve is influenced by the:
  16. The arc elasticity is the measure of average elasticity at the mid-point of the chord and connects:
  17. Selling costs are incurred under monopolistic competition to:
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  19. Which of the following conditions is met in the long-run equilibrium in monopolistic competition, where…
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  21. The cost of one thing in terms of the alternative given up is known as:
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  23. Who wrote An Introduction to Positive Economics?
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