Test: Theory Of Consumer Behaviour- 2


30 Questions MCQ Test Economics for CA CPT | 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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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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