Economics Grade 11 Quiz

The total utility for the first five breads consumed is 4,10,15,18 and 17 respectively, which one of the following is true?

• the marginal utility of the third is 15

• the marginal utilitt ofbth first bread is 0

• the marginal utility of the fifth bread is -1

• the marginal utility ofvthe third bread is -3

The slope of budget line indicates

• the money prices of the two commodities

• The price of one commodity relative to that of the other

• The money income of the household

• The rwal income of the householf

utility is best described as,

• A Mixture of pleasure and pain

• The difference b/n marginal benefit and marginal cost.

• The enjoyment consumer deliver from the choices they make

• The difference b/n demand and supply

which one of the following is not true about indifference curves?

• indifference curves are convex to the origin

• if indifferenc curve itersect each other then the principle (postulate) of transitivty is violated

• indifference curves shift if either price ofvone of the goods consumed or income ofvthe consumer changes.

• indifference curves have negative slope.

which one of the following is the outcome of an increase in income?

• a ratation of the budget line

• movement along a budget line

• An inward shift of the budget line

• An out ward shift of the budget line

marginal utility for a good is computed as,

• quantity consumed divided by total utility

• total utility divided by quantity consumed

• the change in quantity consumed divided by total utility

• the change in total utility divided by change in quantity consumed

suppose a consumer prefers bundle A than bundle B and bundle B than bundle C then consumer prefers bundle A than bundle C . Thise case violates the assum0tion of,

• diminishing marginal utility

• consistency of preference

• transitivity of preference

• non satiation

which one of the following asumptions of ordinal utility theroy states that the biggest bundle is preferred thsn the smsllet?

• transitivity

• complete ordering

• rationality

• non satiation

in which one of the following market structures are the firm and the industry demand curve the same?

• perfect competion

• monopolistic competition

• oligopoly

• pure monopoly

suppose the AR of 4 units of a commodity is 30 birr and that of 5 units is 40 birr.the MR of 5th units birr

• 10

• 60

• 80

• 40