An___________ shows different combinations of two commodities, which give the consumer an equal satisfaction.
Indifference curve
Production possibility curve
Marginal utility
Isoquant
______ means using up of goods and services.
Consumption
Production
Distribution
Investment
A straight downward sloping indifference curve means.
MRS is constant
MRS is increasing
MRS is decreasing
MRS is zero
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
When MRS is constant, X and Y are
Not related
Perfect substitutes
Perfect complements
Inferior goods.
Consumer surplus is
Potential price- Actual price
MVn - TVn- TVn-1
Demand = Supply
Potential price+Actual price
Marshallian Utility approach is ______ analysis.
Cardinal
Ordinal
Both a and b
None of these
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
Marginal utility falls to zero, when the total utility is
Increases
Maximum
Declines
Constant
