Top 50+ Solved Intermediate Micro Economics 1 MCQ Questions Answer
Q. If the price elasticity is between 0 and 1, demand is
a. Inelastic
b. elastic
c. perfectly elastic
d. unit elastic
Q. A good with a vertical demand curve has a demand with
a. Infinite elasticity
b. unit elasticity
c. Zero elasticity
d. varying elasticity
Q. Marginal utility for money is positive in case of
a. Risk aversion
b. Risk lover
c. Risk neutral
d. all of these
Q. When the expected utility is greater than utility of the certail income
a. person is risk averse
b. person is risk lover
c. person is risk neutral
d. None of the above
Q. The marginal utility curve of income curve is a straight line for
a. risk aversion
b. risk lover
c. Risk neutral
d. all of these