utility is _________ concept.
Social concept
Subjective/ Psychological concept
Political concept
Scientific concept
An___________ shows different combinations of two commodities, which give the consumer an equal satisfaction.
Indifference curve
Production possibility curve
Marginal utility
Isoquant
Indifference curves slope downwards to the
Right
Left
Origin
Parallel
Single commodity consumption mode is
Law of equi-marginal utility
Law of supply
Law of diminishing marginal utility
In marginal utility theory, marginal utility of money is
Rising
Constant
Decreasing
Rises and the falls
Marshallian Utility approach is ______ analysis.
Cardinal
Ordinal
Both a and b
None of these
Marginal utility falls to zero, when the total utility is
Increases
Maximum
Declines
A straight downward sloping indifference curve means.
MRS is constant
MRS is increasing
MRS is decreasing
MRS is zero
When MRS is constant, X and Y are
Not related
Perfect substitutes
Perfect complements
Inferior goods.
Which theory assumes ordinality of utility?
Marginal utility theory
