Question
1.Uncompensated demand curves for normal goods areA.shallower than compensated demand curvesB.of the same slope as the compensated demand curvesC.steeper than compensated demand curves 2.An increase
1.Uncompensated demand curves for normal goods areA.shallower than compensated demand curvesB.of the same slope as the compensated demand curvesC.steeper than compensated demand curves
2.An increase in income causes compensated demand curves toA.shift inward and regular demand curves to shift outward.
B.both demand curves to shift out if the good is normalC.both demand curves to shift in if the good is inferiorD.Both B and C
3.A quasiconcave production functionA.can only give increasing returns to scale.B.can only give decreasing returns to scale.C.can only give constant returns to scaleD.A, B and C (all three choices are correct)E.Only A and C are correct choicesF.Only B and C are correct choices
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