CONSUMER'S EQUILIBRIUM

CONSUMER'S EQUILIBRIUM

12th Grade

20 Qs

quiz-placeholder

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CONSUMER'S EQUILIBRIUM

CONSUMER'S EQUILIBRIUM

Assessment

Quiz

Other, Social Studies

12th Grade

Practice Problem

Medium

Created by

Rajalekshmi S S

Used 33+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

What will be the value of MU when TU is maximum?

positive

negative

zero

none of these

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

MRS is equal to Px/Py then satisfaction will be

minimum

Maximum

zero

one

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Cardinal approach is developed by

J R Hicks

Alfred Marshall

Adam Smith

Paul Samuelson

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Ordinal Approach is developed by

Hicks and Allen

Alfred Marshall

Adam Smith

Paul Samuelson

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When consumer reaches equilibrium then IC

Straight line

Convex to origin

Concave to origin

All of these

6.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Which of the following can be referred to as 'point of satiety'?

MU is negative

MU is zero

TU is rising

TU is falling

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The bundle that the consumer can purchase by spending his entire money income at given prices is represented by

budget line

budget set

consumption bundle

none of these

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