Multiple Choice
Marginal utility theory is about
A) the consumer behaviour that underlies the theory of demand.
B) proving that demand curves are always downward sloping.
C) the total satisfaction resulting from the consumption of some good by the consumer.
D) how producers allocate their scarce resources.
E) calculating consumer surplus.
Correct Answer:
Verified
Correct Answer:
Verified
Q8: Consider the income and substitution effects of
Q9: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5441/.jpg" alt=" FIGURE 6-7 -Refer
Q10: Assume the quantity of good X is
Q11: Suppose the price of potatoes falls and
Q12: Consider the income and substitution effects of
Q14: If total utility from the consumption of
Q15: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5441/.jpg" alt=" FIGURE 6-7 -Refer
Q16: In indifference curve analysis,the consumer's utility-maximizing point
Q17: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5441/.jpg" alt=" FIGURE 6-1 -Refer
Q18: Any consumption point that is on the