Test Details

Consumer Equilibrium and Demand

Jan 21, 11:20 AM

40 minutes

Jan 21, 12:00 PM

50.0 marks

MCQ

25 questions

Rahul Mishra

For Math's Classes 9th and 10th

Class Details

Micro economics

Statistics

11 SNS

Micro economics

Statistics

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Question Text

Question 2 :
At the time of consumption of the _______ of a commodity the total utility, average utility and marginal utility are same.<p></p><p></p>

Question 3 :
In case of _______ goods, demand increases with decrease in income of the consumer.

Question 4 :
The income of a household rises by $10$%, the demand for washing machine rises by $20$%. This means washing machines (in Economics) is a/an _________.

Question 5 :
Limitation of cardinal approach of marginal utility theory is/are that ______.

Question 6 :
"Utility is a subjective concept therefore it could only be ranked" defines the position of  _______.

Question 7 :
Which of the following approach assumes that utility can be measured in terms of numbers like 1, 2, 3, 4, & 5?

Question 9 :
The second glass of lemonade gives lesser satisfaction to a thirsty boy. This is a clear case of ____________.

Question 10 :
The law of diminishing marginal utility states that as the stock of a commodity increases with the consumer, its ________ to the consumer decreases.

Question 12 :
The Price of diesel increases by 25%. To what extent a person can reduce quantity of diesel consumption so that his budget is not upset?

Question 13 :
The inverse relationship between variations in the price and quantity demanded is not due to __________.

Question 14 :
Market demand for any good is a function of the ______.

Question 15 :
If the price of Pepsi decreases relatively the price of Coke and $7$-Up, the demand for.

Question 17 :
When the price of a substitute of a commodity X falls, then the demand for X.

Question 19 :
Suppose the price of Pepsi increase, we will expect the demand curve of Coca Cola to.

Question 23 :
The consumer is in equilibrium and is consuming commodity$-X$ only. The marginal utility from last unit consumed of commodity$-X = 50$ utils and $MU_M = 10$. Find the price of the commodity$-X$.

Question 24 :
At lower prices more of the commodity will be purchased because of which of the following reasons?

Question 25 :
In indifference curve analysis, the fundamental condition of equilibrium is ___________.

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