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This set of Principles of Micro Economics Multiple Choice Questions & Answers (MCQs) focuses on Principles Of Micro Economics Set 5

Q1 | Measurable utility is the postulate of:
Q2 | Which of the following is Gossen’s first law:
Q3 | In the case of a free good, the consumer will be in equilibrium when:
Q4 | Change in demand due to a change in the price of related good :
Q5 | The Price and quantity relationship for an inferior good is:
Q6 | In the case of normal goods, the quantity demanded varies inversely with:
Q7 | Which of the following is a cardinalist approach to demand analysis:
Q8 | The convexity of an indifference curve shows:
Q9 | A movement from one point to another along an indifference curve makes thesatisfaction:
Q10 | In the case of an indifference curve
Q11 | An Indifference Curve to the right of another represents combinations whichare:
Q12 | As moving from left to right through an indifference curve, the MRS of X forY
Q13 | The slope of an indifference curve represents:
Q14 | In the case of perfect complementaries, the MRS between goods is:
Q15 | In a combination of X and Y, if price of Y alone changes, the X intercept will:
Q16 | At the point of tangency of an indifference curve with a budget line:
Q17 | Commodities bought in larger quantities when income rises are called:
Q18 | Change in demand due to change in relative price alone is called:
Q19 | Substitution Effect is:
Q20 | If income effect works in the same direction to that of substitution effect, thegood is a:
Q21 | If income effect works in the direction opposite to that of substitution effect,the good is not:
Q22 | Introspection is not the basis of :
Q23 | The ordering of combinations on an indifference curve is:
Q24 | Strong ordering is a distinguishing feature of the theory given by:
Q25 | Father of Economics: