Indifference curve is downward sloping from left to right since more x and less y give
| A. | Less satisfaction |
| B. | More satisfaction |
| C. | Equal satisfaction |
| D. | Maximum satisfaction |
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Option: C Explanation : Click on Discuss to view users comments. |
Which of the following statements is correct or more nearly correct?
| A. | If the price of a commodity falls, its value relative to other goods does not change |
| B. | Value has nothing to do with price |
| C. | An increase in the price of commodity represents a fall in its value |
| D. | The price of a good is its value measured in terms of money |
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Option: D Explanation : Click on Discuss to view users comments. |
An increase in a firm's fixed costs will
| A. | Change total costs but not marginal costs |
| B. | Change both marginal and total costs |
| C. | Change variable costs but not marginal costs |
| D. | Change marginal costs but not total costs |
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Option: C Explanation : Click on Discuss to view users comments. |
