
Utility
Authored by Seema Nag
Social Studies
11th - 12th Grade
Used 134+ times

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10 questions
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1.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
In which analysis can utility be measured in definite numbers such as 1,2,3, etc
Cardinal utility analysis
Ordinal utility analysis
Both option 1 & 2
None of these
2.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
Ordinal concept of utility express utility in terms of :
Units
Level of satisfaction
Constants
None of these
3.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
When only 1 unit of the commodity is consumed
MU=TU
MU>TU
MU<TU
None of these
4.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
When marginal utility is negative, total utility is
Zero
Diminishing
Maximum
Minimum
5.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
When total utility is maximum, marginal utility becomes:
Zero
Unity
Positive
Negative
6.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
When TU is increasing at a diminishing rate , MU must be:
Increasing
Decreasing
Constant
Negative
7.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
Initially MUx/Px=MUy/Py. With a fall in the price of Y, the consumption of the commodity Y:
Diminishes
Increases
Remains constant
Becomes zero
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