Arrange the following values of elasticity of demand of a downward sloping linear demand line in correct order starting from left to the right along with the demand curve.

(A) E$_d$ =0

(B) E$_d$ = ∞

(C) E$_d$ =1

(D) E$_d$ <1

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Find the correct statement/statements.

(A) Goods which are consumed together are called complementary goods.

(B) The market demand curve can be derived as a vertical summation of the individual demand curves.

(C) Price elasticity of demand is a measure of the responsiveness of the demand for a good to changes in its price.

(D) If the consumer's preferences change in favor of a good, the demand curve for such a good shifts leftward.

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Given the prices of goods and income of the consumers, the consumer can buy any bundle (X$_1$, X$_2$) such that P$_1$X$_1$ + P$_2$X$_2$ ≤ M. This inequality in the above equation is called__________.

Which of the following are true about indifference curves?

(A) All the points lying on an indifference curve provide the consumer with different levels of satisfaction.

(B) Indifference curves are convex to the origin due to law of Diminishing Marginal Rate of Substitution.

(C) Higher indifference curve gives greater level of utility.

(D) In the case of perfect substitutes, indifference curves are straight lines.

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The price of a commodity increases by 10%, its demand drops by 12%. What is the nature of price elasticity of demand?

"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

Which among the following are the features of the indifference curve?

(A) Indifference curve slopes downwards from left to right.

(B) Higher indifference curve gives greater level of utility.

(C) Indifference curve reflects negative utility.

(D) Two indifference curves never intersect each other.

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