Question

4.____One of the following is not true about the characteristics of well-behaved
indifference curves:
A. They are convex to the origin
B. All points on an indifference curve yield the same level of satisfaction
C. They are straight line
D. As we move closer to the origin, the level of satisfaction will diminish
E. None
5.____When the short run average product of labor is declining but positive, the
marginal product of labor is,
A. Negative B. Declining C. Zero D. Any of the above is possible
6.____When marginal utility is positive and declining.
A. Total utility decreases at a diminishing rate
B. Total utility increases at a diminishing rate
C. Totai utility increases at an increasing rate
D. Total utility is negative
If the price elasticity of 7._____demand is less than 1 and price increases by 8%,
then, quantity demand will
A. Decrease by less than 8%
C. Increase by more than 8%
B. Decrease by more than 8%
D. Remains the same
8.___refers to attitude of an individual who prefers risk income than income with
certain outcome.
A. Risk Averse B. Risk lover C. Risk neutral D. Diversification
9._____The law of scarcity refers to the following facts:
A. Scarcity exist only during bad economic times
B. Scarcity exists only when there is poverty
C. Even in the richest countries, hang-y people can be found
D. No country can produce enough to satisfy fully every body's wants for
everything.​

Answer 1

Answer:

ggffy I am not sure if you have any questions