Theory of Consumer Behaviour-Test 1

———-Shows various combinations of two products that give same amount of satisfaction.

Total utility is maximum when:

An indifference curve is always :

Marginal utility curve of a consumer is also his ———–

At equilibrium, the slope of the indifference curve is ———–

The law of equi marginal utility considers price of money as ———-

Marginal utility approach was given by ————–

Indifference curves between income and leisure for an individual are generally :

In case of a right angled indifference curve the goods are ————-

Indifference curves never intersect each other due to ————

A budget constraints line is a result of ———–

The difference between what a consumer is ready to pay and what he actually pays is ————-

Total utility derived from the consumption of a commodity is equal to Rs.5.Marginal utility is equal to 1 and consumer has bought 3 units . What will be his consumer surplus?

The slope of I.C curve is always ———–

Which economist said that money is the measuring rod of utility?

Marginal utility is a ———— concept .

Indifference curves are ————–

On which approach, indifference curve analysis is based?

Cardinal approach is related to ————-

The substitution effect of fall in the price of the commodity will lead to —————-

The satisfaction which a consumer derives in the consumption of a commodity is equal to Rs.320.The price of that commodity is Rs.180. What will be his consumer surplus?

The law of equi marginal utility is one of the laws within whose parameters marginal utility analysis is framed. The other one is —————-

When indifference curve is L shaped then two goods will be —————

Indifference curves are convex to the origin because they are based on ————–

When total utility is maximum then marginal utility is ?

When marginal utility from the consumption of a commodity is zero, then the —————

Total utility starts decreasing when —————–

The convexity of indifference curve is due to —————-

When two goods are perfect complementary . The indifference curve is ————–

Marshallian utility analysis  is known as —————–