List of top Economics Questions on Consumer Theory or Behavior

Consider the following statements: A. Consumer surplus equals area under demand curve above price line, B. Marshall's measure assume constant marginal utility of money, C. Hicksian compensatory variation is better welfare measure than Marshallian surplus, D. Consumer surplus is always zero for perfectly elastic demand, E. Price elasticity of demand is unitary when total revenue \(TR\) is maximum.

Sequence the following theories/concept earliest to latest: A. Ordinal Utility, B. Cardinal Utility, C. Revealed Preference, D. Slutsky decomposition, E. Modern behavioural economics.

The term convex means that the slope of the indifference curve along the curve.}

Which among the following is not an assumption of Indifference Curve?

Goods are substitutes when an increase in price of one leads to of other commodity