Class XII

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
The value of elasticity in case of a horizontal line will be
  1. Infinity
  2. Zero
  3. Greater than one
  4. One
At what point does total utility starts diminishing?
  1. When marginal utility is negative
  2. When marginal utility is negative
  3. When marginal utility is increasing
  4. When marginal utility remains constant
A rise in the income of the consumer leads to a fall in the demand for commodity ‘x’. What type of good is commodity ‘x’?
  1. Necessity good
  2. Normal good
  3. Snob goods
  4. Inferior good
Which of the following curve has a negative slope and cannot interest each other?
  1. Isoquants
  2. Indifference curves
  3. Demand and supply curves
  4. None of above
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