Multiple Choice
Which of the following statement is TRUE with regard to total utility
A) total utility is the utility derived from last unit
B) total utility increases at a diminishing range
C) as consumption increases total utility goes on diminishing
D) at saturation point total utility is negative
Correct Answer:
Verified
Correct Answer:
Verified
Q1: As per indifference curve analysis consumer equilibrium
Q2: If negative income effect is greater than
Q3: According to Marshall consumer surplus is:<br>A)total utility
Q5: Strong ordering means<br>A)absence of indifference<br>B)presence of indifference<br>C)no
Q6: The income effect for a commodity is<br>A)is
Q7: Which of the following statements is true<br>A)hicksian
Q8: For a giffen good, when price falls<br>A)demand
Q9: Inferior goods are the goods with<br>A)falling income
Q10: If negative income effect is greater than
Q11: Price effect is<br>A)income effect - substitution effect<br>B)substitution