Talvir Singh is teaching live on Unacademy Plus
TARGET JRF JUNE 2019 80 DAYS DAILY MCQ SERIES COMMERCE/MANAGEMENT BY TALVIR SINGH
unacademy Lessons by al Weekly quizzes structured courses top Educators l & doubt-clearing All live & plus Talvir Singh Referral Code - talvirdhiman-1378 TALVIR SINGH
1. Marginal utility measures: . A. The slope of the indifference curve. B. The additional satisfaction from consuming one more unit of a good. The slope of the budget line. D. The marginal rate of substitution . C.
.2. Which of the following best expresses the law of diminishing marginal utility? A. The more a person consumes of a product, the smaller becomes the utility which he receives from its consumption. .B. The more a person consumes of a product, the smaller becomes the additional utility which she receives as a result of consuming an additional unit of the product. The less a person consumes of a product, the smaller becomes the utility which she receives from its consumption. .C. The less a person consumes of a product, the smaller becomes the additional utility which he receives as a result of consuming an additional unit of the product. .D.
. 3. A curve that represents all combinations of market baskets that provide the same level of utility to a consumer is called: . A. A budget line. B. An isoquant. . C. An indifference curve. D. A demand curve.
. 4. The marginal rate of substitution: . A. May rise or fall, depending on the slope of the budget line. Rises as you move downward along an indifference Falls as you move downward along an indifference Remains the same along a budget line. . B. curve. . C. curve. D.
5. Which of the following is a characteristic of the indifference curves? A. They are concave to the origin. B. They are convex to the origin. C. Curves closer to the origin have the highest level of total utility. D. Curves closer to the origin have the highest level of marginal utility. . ' . .
7. The endpoints (horizontal and vertical intercepts) of the budget line: . A. Measure its slope. B. Measure the rate at which one good can be substituted .C. Measure the rate at which a consumer is willing to . D. Represent the quantity of each good that could be for another. trade one good for another. purchased if all of the budget were allocated to that good.
. 9. If Px Py, then when the consumer maximizes utility, . A. Xmust equal Y. MU(X) must equal MU(Y). MU(X) may equal MU(Y), but it is not B. . C. necessarily so. . D. Xand Y must be substitutes.