A consumer can get maximum satisfaction where the _________ are same.
Total utility and Marginal utility
Price of a commodity and Marginal utility
Price of a commodity and Total utility
Marginal Utility
In Economics the term utility means
Sorrow
Enjoyment
Satisfaction
Development
Total utility and marginal utility are same when a consumer takes ________ of a commodity.
5th Unit
10th Unit
6th Unit
1st Unit
Scale of preference of a consumer is independent of:
Market Price
Scale of preference of other consumer
Income of the consumer
All of the above
Indifference mean:
x is preferred to y
y is preferred to x
x and y are equally preferred
x is not preferred
Consumer's equilibrium is a situation in which a consumer can get _______ satisfaction from his current level of income.
Maximum
Minimum
No
Less
Smoothness of indifference curve means
X and Y are substitutes of each other
X and Y can be consumed in fixed proportion
Perfect divisibility of two goods
Perfect non divisibility of two goods
A consumer with a given income will maximize their utility when :
The total utility derived from each commodity consumed is equal
The marginal utilities derived from each commodity consumed are proportional to their prices
The marginal utility derived from each commodity is equal
The marginal utility derived from each product consumed is zero
Point A is :
Attainable
Not attainable
Desirable and attainable
Desirable and not attainable
Upward sloping demand curve can be explained by:
Marginal utility theory
Diminishing marginal utility
Indifference curve theory
Consumer theory
