Economics - Study Mode
[#911] When the demand curve is a rectangular hyperbola, a fall in the price of a commodity causes total expenditures on the commodity to
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(C) remain unchanged
[#912] Assertion (A): Utility will be maximized when the marginal units of expenditure in each direction bring the same increment of utility. Reason (R): A consumer will try to maximize his utility.
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(A) Both (A) and (R) are true
[#913] If the quantity of a commodity demanded remains unchanged as its price changes the coefficient of price elasticity of demand is
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(D) zero
[#914] A production possibility curve indicates the
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(C) attainable combinations of commodities for a community using all its available resources
[#915] Returns to scale involve variations in the quantities of the various factors of production 1. Simultaneously 2. Proportionately
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(C) 1 is incorrect, but 2 is correct