► It shifts farther away from the origin of the graph.
► It shift inward.
► It shifts outward.
► None of the given options.
Indifference curves that are concave to the origin reflect:
► An increasing marginal rate of substitution
► A decreasing marginal rate of substitution
► A constant marginal rate of substitution
► A marginal rate of substitution that first decreases then increases
The curves are convex to the origin, describing the negative substitution effect. As price rises for a fixed money income, the consumer seeks less the expensive substitute at a lower indifference curve.
Question No: 25 ( Marks: 1 ) - Please choose one
What will happen to the isocost line if the price of both goods decreases proportionality?
► It shifts farther away from the origin of the graph.
► It shift inward.
► It shifts outward.
► None of the given options.
On Sat, Nov 5, 2011 at 9:12 AM, Muhammad Abid <abid489@gmail.com> wrote:
Please give me the following mcqs answersIndifference curves that are concave to the origin reflect:
► An increasing marginal rate of substitution
► A decreasing marginal rate of substitution
► A constant marginal rate of substitution
► A marginal rate of substitution that first decreases then increases
Question No: 25 ( Marks: 1 ) - Please choose one
What will happen to the isocost line if the price of both goods decreases proportionality?
► It shifts farther away from the origin of the graph.
► It shift inward.
► It shifts outward.
► None of the given options.
On Fri, Nov 4, 2011 at 9:57 PM, Admin Binish <greyferry@gmail.com> wrote:
Question No: 31 ( Marks: 1 ) - Please choose one
Monopolistic competition is also characterized by a large number of buyers and sellers and absence of
► Competition.
► Entry barriers.
► Price discrimination.
► All of the given options.
MONOPOLISTIC COMPETITION
Monopolistic competition is also characterized by a large number of buyers and sellers and absence of entry barriers. In these two respects it is like perfect competition. Firms are price-takers but not in the extreme sense of perfect competition. Products are differentiated and in this respect, it is different from perfect competition.
On Fri, Nov 4, 2011 at 9:54 PM, Admin Binish <greyferry@gmail.com> wrote:
tanzeela send me in private greyferry@gmailur pasward and id i ll login to ur vulms only in that case i can have idea what type of problem u are facingor u may plz share the Snapshot of ur quiz screen or errorthanks
On Fri, Nov 4, 2011 at 9:48 PM, mc110400966 Tanzeela Kousar <mc110400966@vu.edu.pk> wrote:
koi duso v myra q quizz ni open hu rha
On Fri, Nov 4, 2011 at 9:47 PM, Admin Binish <greyferry@gmail.com> wrote:"Adam Smith (1723 - 1790), the "father of modern economics" and author of the famous book "An Inquiry into the Nature and Causes of the Wealth of Nations", spawned the discipline of economics by trying to understand why some nations prospered while others lagged behind in poverty"
On Fri, Nov 4, 2011 at 9:46 PM, Admin Binish <greyferry@gmail.com> wrote:
Question 1 - Who is considered to be the "father of modern economics"?A) Karl Marx
B) Abraham Lincoln
C) Adam Smith
D) Barack Obama
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