(Solved): The demand curve derived always individual demand curve and we cannot derive market demand curve by ...

The demand curve derived always individual demand curve and we cannot derive market demand curve by analyzing the total demand in a market. Select one: True False Question 9 Not yet answered Marked out of \( 1.00 \) P Flag question Substitution effect refers to the fall in price of a good, makes consumers feel the price is relatively cheaper and the consumer would be willing to buy more of it rather that buying an expensive alternative good. Select one: True False Question 10 Not yet answered Marked out of \( 1.00 \) Flag question Which unit of a good that is consumed gives the most benefit or utlity? Select one: a. First unit b. Second unit c. last unit d. All the units give same benefit Question 11 Not yet answered Marked out of \( 1.00 \) Flag question What happens to the demand for computers when its price rises? Select one: a. Neutral b. Increases c. None d. Decreases Question 12 Not yet answered Marked out of \( 1.00 \) P Flag question The income is fixed and the price of a product falls consumer's real income is more and demand increases is referred as Select one: a. Real effect b. Complimenting effect c. Veblen effect d. Income effect Question 13 Not yet answered Marked out of \( 1.00 \) P Flag question To rank consumers relative preferences and thereby establish a ranking order is known as Select one: a. None b. Cardinal utility c. Ordinal utility d. Production possibility