Marginal utility falls to zero, when the total utility is
Increases
Maximum
Declines
Constant
A straight downward sloping indifference curve means.
MRS is constant
MRS is increasing
MRS is decreasing
MRS is zero
______ means using up of goods and services.
Consumption
Production
Distribution
Investment
An___________ shows different combinations of two commodities, which give the consumer an equal satisfaction.
Indifference curve
Production possibility curve
Marginal utility
Isoquant
Marshallian Utility approach is ______ analysis.
Cardinal
Ordinal
Both a and b
None of these
In marginal utility theory, marginal utility of money is
Rising
Decreasing
Rises and the falls
As the consumer has more units of a commodity, his total utility from the commodity is
Increases less than in proportion, reaches a maximum and then falls.
Increases less than in proportion and then falls
Increases more than in proportion and then reaches a maximum
Falls becomes zero and then negative
Single commodity consumption mode is
Law of equi-marginal utility
Law of supply
Law of diminishing marginal utility
When MRS is constant, X and Y are
Not related
Perfect substitutes
Perfect complements
Inferior goods.
Indifference curves slope downwards to the
Right
Left
Origin
Parallel
