| 1 |
The utility of an additional unit of a product is |
- A. Law of demand
- B. Law of substitution
- C. Law of supply
- D. Law of diminishing marginal utility
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| 2 |
According to law of diminishing marginal utilities , a consumer maximises his total utility where. |
- A. MU<sub>a</sub> = MP<sub>a</sub>
- B. MU<sub>a</sub> = AU<sub>a</sub>
- C. MU<sub>a</sub> = TC<sub>a</sub>
- D. MU<sub>a</sub> = P<sub>a</sub>
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| 3 |
In mathematics which letters at the end of alphabet are used to represent variables |
- A. (u,v,w,x,y,z)
- B. (a,b.c.d.e.f.g)
- C. (a.b.c.u.v.w)
- D. ((x,y,z,a,b,c)
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| 4 |
A variable is a symbol which, during a discussion, may assume different values or a set of admissible values. This is the definition of |
- A. Prof. Kooros
- B. Prof. Marshall
- C. Prof. Rabbins
- D. Prof. Kneez
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| 5 |
Variable are represented by symbol |
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| 6 |
The talent of a professor is . |
- A. National wealth
- B. International wealth
- C. Personal wealth
- D. Non of them
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| 7 |
Who introduced indifference curves to explain consumer's beghavior |
- A. J.R Hicks
- B. Marshall
- C. Robbins
- D. Adam Smith
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| 8 |
According to law of equi-marginal utility a consumer will maximises his total utility when |
- A. He spends all his income on the product only
- B. He spends more on one and less on the other
- C. Marginal utility of the two goods are equalised
- D. Not only the marginals utility of the two goods are equalised, but also the marginal utility of each good is equal to its price.
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| 9 |
<div>When marginal utility of a product is zero its total utility will be.</div> |
- A. Increase
- B. Decreasing
- C. Maximum
- D. Constant
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| 10 |
To show data in tables, we must first |
- A. reduce data
- B. expand data
- C. classify data
- D. all of the above
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