A straight downward sloping indifference curve means.
MRS is constant
MRS is increasing
MRS is decreasing
MRS is zero
In marginal utility theory, marginal utility of money is
Rising
Constant
Decreasing
Rises and the falls
An___________ shows different combinations of two commodities, which give the consumer an equal satisfaction.
Indifference curve
Production possibility curve
Marginal utility
Isoquant
Wants may be both
Competitive
Unlimited
Satiable
All the above
Single commodity consumption mode is
Law of equi-marginal utility
Law of supply
Law of diminishing marginal utility
In marginal utility theory, we assume other things are
Changing
Change in the longrun
Change in the shortrun
Consumer surplus is
Potential price- Actual price
MVn - TVn- TVn-1
Demand = Supply
Potential price+Actual price
An indifference curves is _____ to the origin.
Convex
Concave
Parallel
Which theory assumes ordinality of utility?
Marginal utility theory
Both a and b
______ means using up of goods and services.
Consumption
Production
Distribution
Investment
