Which of the following statements is incorrect?
  • a)
    An indifference curve must be downward-sloping to the right.
  • b)
    convexity of a curve implies that the slope of the curve diminishes as one moves from left to right .
  • c)
    The elasticity of substitution between two goods to a consumer is zero.
  • d)
    The total effect of a change in the price of a good on its quantity demanded is called the price effect.
Correct answer is option 'C'. Can you explain this answer?

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This discussion on Which of the following statements is incorrect?a)An indifference curve must be downward-sloping to the right.b)convexity of a curve implies that the slope of the curve diminishes as one moves from left to right .c)The elasticity of substitution between two goods to a consumer is zero.d)The total effect of a change in the price of a good on its quantity demanded is called the price effect.Correct answer is option 'C'. Can you explain this answer? is done on EduRev Study Group by CA Foundation Students. The Questions and Answers of Which of the following statements is incorrect?a)An indifference curve must be downward-sloping to the right.b)convexity of a curve implies that the slope of the curve diminishes as one moves from left to right .c)The elasticity of substitution between two goods to a consumer is zero.d)The total effect of a change in the price of a good on its quantity demanded is called the price effect.Correct answer is option 'C'. Can you explain this answer? are solved by group of students and teacher of CA Foundation, which is also the largest student community of CA Foundation. If the answer is not available please wait for a while and a community member will probably answer this soon. You can study other questions, MCQs, videos and tests for CA Foundation on EduRev and even discuss your questions like Which of the following statements is incorrect?a)An indifference curve must be downward-sloping to the right.b)convexity of a curve implies that the slope of the curve diminishes as one moves from left to right .c)The elasticity of substitution between two goods to a consumer is zero.d)The total effect of a change in the price of a good on its quantity demanded is called the price effect.Correct answer is option 'C'. Can you explain this answer? over here on EduRev! Apart from being the largest CA Foundation community, EduRev has the largest solved Question bank for CA Foundation.
This discussion on Which of the following statements is incorrect?a)An indifference curve must be downward-sloping to the right.b)convexity of a curve implies that the slope of the curve diminishes as one moves from left to right .c)The elasticity of substitution between two goods to a consumer is zero.d)The total effect of a change in the price of a good on its quantity demanded is called the price effect.Correct answer is option 'C'. Can you explain this answer? is done on EduRev Study Group by CA Foundation Students. The Questions and Answers of Which of the following statements is incorrect?a)An indifference curve must be downward-sloping to the right.b)convexity of a curve implies that the slope of the curve diminishes as one moves from left to right .c)The elasticity of substitution between two goods to a consumer is zero.d)The total effect of a change in the price of a good on its quantity demanded is called the price effect.Correct answer is option 'C'. Can you explain this answer? are solved by group of students and teacher of CA Foundation, which is also the largest student community of CA Foundation. If the answer is not available please wait for a while and a community member will probably answer this soon. You can study other questions, MCQs, videos and tests for CA Foundation on EduRev and even discuss your questions like Which of the following statements is incorrect?a)An indifference curve must be downward-sloping to the right.b)convexity of a curve implies that the slope of the curve diminishes as one moves from left to right .c)The elasticity of substitution between two goods to a consumer is zero.d)The total effect of a change in the price of a good on its quantity demanded is called the price effect.Correct answer is option 'C'. Can you explain this answer? over here on EduRev! Apart from being the largest CA Foundation community, EduRev has the largest solved Question bank for CA Foundation.