Theory of Consumer Behaviour-Test2

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

When Marginal rate of substitution is increasing, the shape of indifference curve ————-

A higher indifference curve shows —————-

When total utility increase at a diminishing rate , marginal utility is ————–

In the case of complimentary goods the shape of indifference curve will be ————–

From which of the following , the concept of consumer’s surplus has been derived?

The price line or budget line of a consumer is ——————

Under the law of variable proportion, diminishing returns occur ———–

“Excess of the price which a consumer would be willing to pay rather than go without a thing over that which he actually does pay”. Who among the  following

has given this statement about consumer surplus?

Which one of the following is not an act of consumption?

When total utility is maximum, the marginal utility is ———–

As indifference curve is a curve which represents all those combinations of two goods which give ————- satisfaction to the consumer.

Total utility is maximum when ————–

The marginal rate of substitution ————– as a consumer moves down the indifference curve.

An indifference curve shapes down towards the right since more of one commodity and less of another, yields:

The value of X in the following table is :

Number of units consumed               Marginal utility         Total utility

1                                                     30                         30

2                                                    27                          X

Which one of the following statements about an indifference curve is not correct?

The second glass of lemonade gives lesser satisfaction to a thirsty by- this is a clear case of —————-

The concept of consumer’s surplus is derived from ————-

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

Which among the following is not the assumption of the law of diminishing marginal utility?

Which of the following is called Gossen’s first law?

Gossen’s second law states that ————-

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

The Doctrine of consumer surplus is based on ————-

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

Consumer surplus is also known as ————

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

A series of indifference curve is called ————-

Convex IC is explained by —————-