CUET EconomicsMicro > Easy(A) - (I), (B) - (II), (C) - (III), (D) - (IV)(A) - (I), (B) - (III), (C) - (II), (D) - (IV)(A) - (I), (B) - (II), (C) - (IV), (D) - (III)(A) - (III), (B) - (IV), (C) - (I), (D) - (II)✅ Correct Option: 2Related questions:27 May Shift 2Which of the following statements are correct: (A) Consumer's preferences are monotonic: If and only if between any two bundles, the consumer prefers the bundle which has more of at least one of the goods and no less of the other good as compared to the other bundle. (B) The tendency for the MRS to fall with increase in quantity of goods is known as the Law of Diminishing Marginal Rate of Substitution. (C) A decrease in income causes a parallel outward shift of the budget line. (D) The budget set is the collection of all bundles that the consumer can buy with their income at the prevailing market prices. Choose the correct answer from the options given below:28 May Shift 2Match List-I with List-II List-IList-II(A) Slope of Budget line(I) P1X1+P2X2≤MP_1X_1 + P_2X_2 \leq MP1X1+P2X2≤M(B) Horizontal intercept of budget line(II) M/P2M/P_2M/P2(C) Vertical intercept of budget line(III) −P1P2-\frac{P_1}{P_2}−P2P1(D) Budget constraints(IV) M/P1M/P_1M/P1 Choose the correct answer from the options given below:16 May Shift 1"If and only if between any two bundles, the consumer prefers the bundle which has more of at least one of the goods and no less of the other good as compared to the other bundle". Such preferences are known as