Class XII

What does one take on two axes while drawing an indifference curve?
  1. Quantity and price of a good
  2. Quantity along X axis and price along Y axis
  3. Quantities of two goods
  4. Price of the two goods
What is the relationship between slope and the demand curve?
  1. less than 1
  2. 1
  3. 0
  4. Δp Δq
The substitute goods of a normal good are those that can be used
  1. Along with each other
  2. Does not exist
  3. Together
  4. In place of each other
The marginal product is above the average product curve, when the average product is:
  1. Becomes constant
  2. Increasing
  3. None of above
  4. Decreasing
A budget constraint line is a result of?
  1. Market price of commodity Y
  2. All of above
  3. Market price of commodity X
  4. Income of the consumer
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