If a consumer's demand for a good moves in the same direction as the consumer's income, the consumer's demand for that good must be inversely related to the price of the good is called..........

• Law of demand

• Law of supply

• Law of substitution

• Law of optimal choice

The change in the optimal quantity of a good when its price changes and the consumer's income is adjusted so that she can just buy the bundle that she was buying before the price change is called?

• Law of demand

• Substitution effect

• Problem of choice

• Optimal choice

The average product curve are inverse........... shaped.

• X

• W

• V

• U

314.

In ............, the short run equilibrium results in quantity produced being lesser and prices being higher compared to perfect competition.

• Monopsony

• Monopoly

• Oligopoly

• Monopolistic Competition

The marginal product curve is inverse ............... shaped.

• X

• W

• V

• U

Goods which are consumed together are called?

• Inferior goods

• Normal goods

• Complementary goods

• Substitute goods