| 1 |
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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| 2 |
A bridge will be a |
- A. Private good
- B. Capital goods
- C. Consumer good
- D. Personal good
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| 3 |
Law of equimarginal utility is also called. |
- A. Law of substitution
- B. Law of maximum social benefits
- C. Law of economy
- D. Law of maximum satisfaction
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| 4 |
The maintain social status in life, a person requires. |
- A. Bare necessities of life
- B. Comforts of life
- C. Luxuries of life
- D. All of them
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| 5 |
Variable are represented by symbol |
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| 6 |
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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| 7 |
Initial utility of a product is : |
- A. Highest
- B. Lowest
- C. Conatant
- D. None of them
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| 8 |
A contour line which slopes downward from left to right and yield equal level of satisfaction to consumer with the given income is. |
- A. Negatively slop curve
- B. An indifference curve
- C. Positively sloped Curve
- D. None of the above
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| 9 |
How many kinds of Function |
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| 10 |
This is a tool in economic studies |
- A. market
- B. price
- C. firm
- D. functional relation
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