In difference curve is:
  • Convex to the origin
  • Concave to the origin
  • Both (a) and (b) true
  • All of these false
Which of the following is true ?
  • TU increases till MU is positive
  • TU is maximum when MU is equal to zero
  • TU declines when MU is negative
  • All of these
Who basically propounded the concept of Law of Equimarginal Utility ?
  • Marshall
  • Gossen
  • Ricardo
  • J. S. Mill
Who gave the cardinal concept of utility?
  • Marshall
  • Pigou
  • Hicks
  • Samuelson
Consumer’s behaviour is studied in:
  • Micro Economics
  • Macro Economics
  • Income Analysis
  • None of these
Which of the following statement is true ?
  • Utility means want-satisfying power
  • Utility is a function of intensity of desire
  • Desire of consumption gives birth to utility
  • All of these
Which is the First Law of Gossen?
  • Law of Demand
  • Law of Diminishing Marginal Utility
  • Law of Equi-marginal Utility
  • Consumer’s Surplus
Which of the following is a characteristic of utility ?
  • Utility is a psychological phenomenon
  • Utility is subjective
  • Utility is a relative concept
  • All of these
How we calculate marginal utility ?
  • ∆TU/∆Q
  • ∆MU/∆Q
  • ∆Q/∆TU
  • ∆Q/∆MU
When TU becomes maximum, MU is:
  • Positive
  • Negative
  • Zero
  • None of these
The ability of satisfying human want in a goods is called its:
  • Productivity
  • Satisfaction
  • Utility
  • Profitability
Slope of budget line or price line is:
  • –\(\frac{P_x}{P_y}\)
  • –\(\frac{P_y}{P_x}\)
  • +\(\frac{P_x}{P_y}\)
  • +\(\frac{P_y}{P_x}\)
Utility is related to:
  • Usefulness
  • Morality
  • Satisfaction of human wants
  • All the above
Utility can be measured by:
  • Money
  • Exchange of goods
  • Weight of the good
  • None of these
Law of Equi-marginal utility is called:
  • Law of increasing utility
  • Law of diminishing utility
  • Law of substitution
  • None of these
Indifference curve slopes:
  • From right to left
  • From left to right
  • Both (a) and (b)
  • None of these
The addition of utilities obtained from all units of a goods is called :
  • Marginal Utility
  • Total Utility
  • Maximum Satisfaction
  • Additional Utility
Who propounded the ordinal utility theory’ ?
  • Marshall
  • Pigou
  • Hicks and Allen
  • Ricardo
The propounder of law of diminishing marginal utility is:
  • Gossen
  • Adam smith
  • Chapman
  • Hicks
Consumer’s equilibrium takes at a point where:
  • MU = Price
  • MU < Price
  • MU > Price
  • None of these
0 h : 0 m : 1 s

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