Test: Theory Of Consumer Behaviour- 2


30 Questions MCQ Test Business Economics for CA Foundation | Test: Theory Of Consumer Behaviour- 2


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QUESTION: 1

Total utility derived form 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?

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QUESTION: 2

A higher indifference curve shows 

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QUESTION: 3

The price line or budget line of a consumer is 

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QUESTION: 4

Marginal utility is a ______ Concept

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QUESTION: 5

On which approach, indifference curve analysis is based?

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QUESTION: 6

The law of equi marginal utility is one of the laws within whose parameters Marginal Utility Analysis is framed. The other one is:

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QUESTION: 7

A consumer buys two commodities X and Y, he should be in equilibrium when:

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QUESTION: 8

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

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QUESTION: 9

Total utility derived from then 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?

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QUESTION: 10

When two goods are perfect complementary, the indifference curve is:

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QUESTION: 11

Total utility starts decreasing when ______.

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QUESTION: 12

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

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QUESTION: 13

A budget constraints line is a result of:

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QUESTION: 14

Indifference curve  analysis is based on:

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QUESTION: 15

The convexity of indifference curve is due to:

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QUESTION: 16

Indifference curves are

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QUESTION: 17

A book “The Nature and significance of Economic Science” is written by:

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QUESTION: 18

Indifference curves never intersect each other due to:

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Indifference curves cannot intersect each other as it would break down the indifference curve analysis. This is because the consumer would have more than one point on the indifference curve giving him a different level of satisfaction.

QUESTION: 19

If total utility of a commodity is 5 and marginal utility is 1, a person consumes 3 units. What is the consumer surplus?

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QUESTION: 20

The law of equi marginal utility considers price of money as:

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QUESTION: 21

At equilibrium, the slope of the indifference curve is:

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QUESTION: 22

When two goods are perfect complementary, the indifference curve is:

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QUESTION: 23

A consumer buys two commodities X and Y, he should be in equilibrium when:

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QUESTION: 24

Cardinal approach is related to:

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QUESTION: 25

Total utility derived from then 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?

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QUESTION: 26

Incase of a right angled indifference curve the goods are:

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QUESTION: 27

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

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QUESTION: 28

The price line or budget line of a consumer is

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QUESTION: 29

A higher indifference curve shows

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QUESTION: 30

Total utility is maximum when:

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