Multiple Choice
The basic doctrine of consumers' surplus is based on
A) indifference curve analysis
B) revealed preference theory
C) law of substitution
D) law of diminishing marginal utility
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Other things being equal a decrease in
Q2: Total utility is<br>A)the sum total of marginal
Q3: Ordinal utility analysis Was developed by<br>A)j.r.hicks &
Q5: In case of a convex indifference curve<br>A)mrs
Q6: As per indifference curve analysis, consumer always
Q7: Total utility curve<br>A)always rises<br>B)first falls then rises<br>C)always
Q8: Indifference curve is always<br>A)concave to the origin<br>B)convex
Q9: Marginal utility is<br>A)always zero<br>B)increases at a diminishing
Q10: "Utility or satisfaction is a subjective concept;
Q11: At saturation point MU of a commodity