Question 1 :
_______ states that as the stock of a commodity increases with the consumer, its marginal utility to the consumer decreases.
Question 2 :
The law of diminishing marginal utility states that as the stock of a commodity increases with the consumer, its ________ to the consumer decreases.
Question 3 :
_______ states that as the stock of a commodity increases with the consumer, its marginal utility to the consumer decreases.
Question 4 :
The law of diminishing marginal utility states that as the stock of a commodity increases with the consumer, its ________ to the consumer decreases.
Question 8 :
The concept of marginal utility plays a central role in ________.
Question 9 :
The concept of marginal utility plays a central role in ________.
Question 10 :
__________ is a want satisfying power or capacity of a commodity.<br>
Question 11 :
The law of diminishing marginal utility states that as the stock of a commodity __________with the consumer, its marginal utility to the consurner _________
Question 14 :
The consumer is said to be in equilibrium when he plans his expenditure on x, y and z commodities in such a way that he ultimately attains:
Question 15 :
After reaching a saturation point, consumption of additional units of the commodity cause ______.
Question 16 :
Since Consumers continue buying till Price equals Marginal Utility, if the price of a product is lower, the Consumer will attain equilibrium -
Question 17 :
A consumer consuming two goods will be in equilibrium, when the marginal utilities from both goods are<span><br></span>
Question 19 :
a consumer consumed three units of a product. Marginal utilities derived from the three units are Rs. 400, Rs. 350 and Rs. 300, respectively. If the price of the product is Rs. 300 per unit, the Consumer surplus is _____
Question 20 :
The law of equi- marginal utility explains equilibrium of the _______.
Question 21 :
The concept of Consumer Surplus arises since for all earlier units purchased (i.e. prior to equilibrium point) ___
Question 22 :
Which of the following assumption is applicable for the law of diminishing marginal utility?
Question 24 :
If the prices of ice-cream and chocolate are Rs. 40 and Rs. 30 respectively, and the Marginal Utility of Chocolate is 150, what is the Marginal Utility of ice-cream assuming that consumer is at equilibrium ?
Question 25 :
An assumption of the constant marginal utility of money means the importance of money to the consumer is _________.
Question 26 :
If MU of money spent on Commodity A is greater than the MU of money spent on Commodity B, the Consumer will withdraw some money from the purchase of B, and will spend it on A, till the MU of money in the two cases becomes equal. Which theory says so?
Question 28 :
Name the economists who developed: <br/>Marginal utility theory - _____________, and <br/>Indifference curve theory - ___________.
Question 29 :
Utility obtained from tea may be affected if no sugar is available. This statement is _________.
Question 31 :
Which of the following assumption is applicable for the law of diminishing marginal utility?
Question 32 :
Which of the following assumption is NOT applicable for the law of diminishing marginal utility?<br/>(i) All the units of the given commodity are heterogeneous.<br/>(ii) The units of consumption are of unreasonable size.<br/>(iii) The consumer is rational human being and he aims at minimization of satisfaction.<span><br/></span>
Question 33 :
If the value of MUx/Px is more than MUy /Py, then the Consumer ________.
Question 36 :
Law of diminishing marginal utility states that as the consumer buys more units of a commodity _________.
Question 37 :
Which of the following is a limitation of law of diminishing marginal utility?
Question 38 :
Consumer is said to be in equilibrium, maximizing his total utility, when
Question 39 :
The concept of Consumer Surplus arises since for all earlier units purchased (i.e. prior to equilibrium point) ___
Question 40 :
Which of the following statement is correct in relation to 'utility'?<br/>(I) Utility of a good is same from consumer to consumer.<br/><span>(II) The utility of a good keeps constant even for the different consumer on account of changes in the intensity of the want to be satisfied by its use.<br/>(III) The utility of a good is not to be equated with its usefulness. <br/>Select the correct answer from the options given below -</span>
Question 43 :
The Law of Diminishing Marginal Utility does not apply to ___ , where personal preferences are dominant.
Question 44 :
<span>Which of the following assumptions is applicable under the Marshallian approach of consumer behaviour?</span>
Question 45 :
.............refers to the effect of a change in the price of a <span>product on the Consumer's purchasing power.</span>
Question 47 :
According to Indifference Curve analysis, Utility can be measured in ____ .
Question 48 :
Consumer is said to be in equilibrium maximizing his total utility, when:
Question 49 :
which among the following is the drawback of Consumer Surplus (as explained in Marginal Utility analysis) ?
Question 50 :
In which approach is Utility ranked in order of preferences but not measured and quantified ?
Question 51 :
The Law of Diminishing Marginal Utility does not apply to ___ , where personal preferences are dominant.
Question 52 :
which among the following is the drawback of Consumer Surplus (as explained in Marginal Utility analysis) ?
Question 55 :
The Consumer will be willing to purchase an item, so long as the Marginal Utility (additional satisfaction) derived is equal to the Price of the commodity. This principle is called_______.
Question 56 :
Under the Law of Diminishing Marginal Utility, Consumers continue buying till Price equals Marginal Utility. Hence at lower prices -
Question 57 :
The consumer is said to be in equilibrium when he plans his expenditure on $x, y$ and $z$ commodities in such a way that he ultimately attains.
Question 59 :
________ says that the additional benefit which a person derives from a given increase in his stock of a thing diminishes with every increase in the stock that he already has.
Question 61 :
When price of both the commodities is same, the consumer attains maximum satisfaction where ________.
