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Questions › UGC-NET › UGC-NET 2025 › Q31
2 marksMicroeconomics › Demand theory and elasticity › Properties of demand and aggregationHardabout 2 min

UGC-NET 2025 Question 31: Demand theory and elasticity

Which of the following conditions are required for the set of consumers to exhibit parallel, straight wealth expansion paths at any price vector P?

A. Preferences admit an indirect utility function of the Gorman form.

B. Preferences are heterogeneous.

C. Wealth is equally distributed among all consumers.

D. All consumers have identical preferences that are homothetic.

E. All consumers have preferences that are quasilinear with respect to the same good.

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Answer and worked solution

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Demand theory and elasticity has come up 161 times in 7 exams since 2004.

What this question tests

This question is on Properties of demand and aggregation, part of Demand theory and elasticity in Microeconomics.

Homogeneity and adding-up of demand, and when individual demands combine into market demand.

TestStop has 8 past-paper questions on this subtopic.

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