The expenditure on the good would change in the opposite direction as the price change if and only if:

Which of the following can shift the demand curve to the right?

(A) Increase in the income of the consumer (For normal goods).

(B) Decrease in the price of complementary goods.

(C) Increase in the price of substitute goods.

(D) Increase in the price of goods.

Choose the correct answer from the options given below:

Good X and Y are considered to be substitutes by a consumer. He is currently consuming good X. If the price of Good Y decreases, then arrange the following in correct sequence.

(A) Demand for Good X decreases.

(B) Consumer finds Good Y to be relatively cheaper than Good X.

(C) Demand curve for Good X shifts to the left.

(D) Consumer shifts from Good X to Good Y.

Choose the correct answer from the options given below:

On the basis of given data, the slope of the price line will be _________

A rational consumer reaches to equilibrium when:

Identify the correct statements with regard to the consumer's budget line/set.

(A) A decrease in the price of goods makes the budget line steeper

(B) A decrease in the price of goods makes the budget line flatter

(C) An increase in the price of goods makes the budget line steeper

(D) All bundles in the positive quadrant which are on or below the line are included in the budget set.

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.

Choose the correct answer from the options given below: