| 1 |
TU is maximum where MU of all goods is: |
- A. Minimum
- B. Maximum
- C. Negative
- D. Equal
|
| 2 |
Utility is related with |
- A. Usefulness
- B. Useless
- C. Necessities
- D. Desire
|
| 3 |
Total utility decreases when marginal utility is |
- A. Positive
- B. Negative
- C. Zero
- D. Maximum
|
| 4 |
According to law of diminishing marginal utility, Utility of every new (Additional) unit of commodity |
- A. Increases
- B. Decreases
- C. Remains constant
- D. None of these
|
| 5 |
Other name of law of equi marginal utility is |
- A. Law of diminishing marginal utility
- B. Law of demand
- C. Law of constant return
- D. Law of indifference
|
| 6 |
On which of the following law of diminishing marginal utility is applicable |
- A. Money and wealth
- B. Diamonds and jewels
- C. Goods of fashion
- D. Necessities of life
|
| 7 |
The concept of utility is: |
- A. Subjective
- B. Moral
- C. Objective
- D. Neutral
|
| 8 |
When total utility is increasing marginal utility is |
- A. Zero
- B. Positive
- C. Negative
- D. Maximum
|
| 9 |
Total utility always: |
- A. Decreases
- B. 1st increases then decreases
- C. Maximum
- D. Negative
|
| 10 |
When marginal utility is zero, than total utility is: |
- A. Minimum
- B. Positive
- C. Maximum
- D. Zero
|
