Consumer equilibrium

Any point inside PPC represents:-

• Underutilized resources
• fully utilized resources
• Unattainable of resources
• all of the above

When MU is negative TU:- 

• Increases
• decreases
• Constant
• none of the above

The slope of indifference curve is:- 

• Concave
• convex
• Straight line
• MRS

The slope of budget line is:-

• concave
• convex
• MRS
  
• price ratio of the commodity

Indifference mean:-

• x is preferred to y
• y is preferred to x
• x & y are equally preferred
• none of the above

If the price of good x shown on x-axis falls then budget line will:-

• Shift to the right
• shift to the left
• Rotate to the right on the x axis
• rotate to the left on the x

The slope of budget line is measured by:-

• MRSxy
  
• MRTSxy
• ratio of the prices of the 2 goods
• all the above

If the marginal rate of substitution (MRS) declines, then the indifference curve is:-

• concave to the origin
• straight line cutting both the axis
• convex to the origin
• none of the above

Ordinal utility analysis was developed by:-

• J.R.Hicks & R.J.D. Allen
• Samualson
• Marshall and Jevons
• Slutsky

A consumer reaches equilibrium when:- 

• Marginal utility is equal to price
• Marginal utility greater than price
• Marginal utility less than price
• Total utility is equal