Economics · Demand Theory
Match List-I (Demand theory concept) with List-II (Originator / Key property): List-I A. Ordinal utility theory / Indifference curve analysis B. Revealed Preference Theory C. Slutsky equation (decomposition) D. Compensating Variation (CV) vs. Equivalent Variation (EV) List-II I. Hicks and Allen (1934); utility is ranked, not measured II. Samuelson (1938); derives demand theory from observable choices without utility III. Decomposes total price effect into substitution and income effects using Slutsky compensation IV. Welfare measures based on expenditure function; CV uses new prices, EV uses old prices as reference Choose the correct answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A-I, B-III, C-II, D-IV
- 2A-III, B-IV, C-I, D-II
- 3A-II, B-I, C-IV, D-III
- 4A-I, B-II, C-III, D-IV✓
Correct answer
A-I, B-II, C-III, D-IV
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