Utility - DMU

Utility - DMU

University

10 Qs

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Utility - DMU

Utility - DMU

Assessment

Quiz

Arts

University

Practice Problem

Medium

Created by

Delphine Valarina

Used 12+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • Ungraded

How are you feeling today?

😁

😐

😴

😕

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When we add up utility derived from consumption of all the units of the commodities, we get?

Total Utility

Marginal Utility

Initial Utility

None of these

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does negative marginal utility indicate?

Dissatisfaction

Satisfaction

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Can marginal utility be Zero?

Yes

No

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When total utility derived by a consumer for one mango is 20 utils and total utility for two mangoes is 15 utils, marginal utility is equal to ___

5

10

15

20

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Marginal utility

is always positive

is always negative

can be positive, negative but not zero

can be positive, negative or zero

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which law states that when a consumer consumers more and more units of a product, the utility derived from each additional unit decreases?

Law of cardinal utility

Law of ordinal utility

Law of Diminishing Marginal Utility

Law of Equi-marginal utility

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