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Theory Of Consumer Behaviour

Question

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If Marginal Rate of Substitution is constant throughout, the Indifference curve will
be

Parallel to the x-axis.

Downward sloping concave.

Downward sloping convex.

Downward sloping straight line.

Solution

D.

Downward sloping straight line.

Reason: If Marginal Rate of Substitution is constant throughout, the Indifference curve will
be downward sloping straight line.

Some More Questions From Theory Of Consumer Behaviour Chapter

When does a consumer attain equilibrium according to indifference curve approach?

Give meaning of demand.

Name two determinants of demand.

List the factors that cause changes in demand.

What is law of demand?

What is demand schedule?

Why does demand curve slope downwards?

Differentiate between substitute and complementary goods.

What is meant by one good being substitute of other?

What is meant by one good being complementary to another.

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