MICROECONOMICS CH : 4 CONSUMER'S EQUILIBRIUM INDIFFERENCE CURVE ANALYSIS — Economics STD 11 Commerce — Question

Giving reasons, state whether the following statements are true or false.
A consumer is in equilibrium where indifference curve equals budget line?

Increase in number of consumers shifts the demand curve rightward. (True/ False)

Giving reasons, state whether the following statements are true or false:
An increase in supply results in a fall both in equilibrium quantity and equilibrium price.

Problem of resource allocation would not arise if resources had no alternative uses.

In a situation when productivity increases owing to improvement in technology, equilibrium price tends to fall.

Fall in marginal product must lead to a fall in average product as well.

Giving reasons, state whether the following statements are true or false.
A job guarantee scheme will lead to a rightward shift of PPF.

Giving reasons, state whether the following statements are true or false.
If marginal product rises, average product must also rise.

A monopolist can sell any quantity he likes at a price. Give reasons with true or false.

Giving reasons, state whether the following statements are true or false.
When price and demand fall in equal proportion, elasticity of demand is unity.