________ is not a the assumption of law of diminishing marginal utility.
Commodity must be same
Taste remains same
price of substitute remains same
There should be a break in between consumption.
Once total utility reaches maximum, consumption thereafter leads to _________ total utility.
Increases
Decreases
reaches the highest level
declining
As per modern theory utility can _______.
measurable
not be measured
no data is available
None of these
When the total utility starts declining, the marginal utility would be _________.
positive
negative
Zero
Any of these
____________ provided a systematic explanation to theory of diminishing marginal utility.
Marshall
HH Gossen
Krugman
Greater the need for a commodity ________ will be the utility.
Greater
lesser
greater or lesser
Marginal utility falls because of total utility ________
Increases at an increasing rate
Decreases at a decreasing rate
increase at a decreasing rate
any of these
Lesser the need for a commodity __________ will be utility.
Greater or lesser
When the marginal utility is zero, the total utility is _______.
maximum
minimum
lowest
The sum of satisfaction by consuming a commodity is known as __________.
Total utility
Marginal utility
Average utility
All of these
