An indifference curves is _____ to the origin.
Convex
Concave
Constant
Parallel
In marginal utility theory, marginal utility of money is
Rising
Decreasing
Rises and the falls
Necessaries, comforts and luxuries are
Classification of goods and services
Classification of wants
Classification of utility
Types of utility
An___________ shows different combinations of two commodities, which give the consumer an equal satisfaction.
Indifference curve
Production possibility curve
Marginal utility
Isoquant
Marginal utility falls to zero, when the total utility is
Increases
Maximum
Declines
Consumer surplus is
Potential price- Actual price
MVn - TVn- TVn-1
Demand = Supply
Potential price+Actual price
A straight downward sloping indifference curve means.
MRS is constant
MRS is increasing
MRS is decreasing
MRS is zero
Marshallian Utility approach is ______ analysis.
Cardinal
Ordinal
Both a and b
None of these
Slope of Total utility is called
Utility
Average utility
Total utility
In marginal utility theory, we assume other things are
Changing
Change in the longrun
Change in the shortrun