WorksheetsAY22_Sem1_B220_L02
Total questions: 5
Worksheet time: 3mins
Which of the following will result in an inward shift of budget line for product A and B.
Price of A decreases by 50%
Price of B decreases by 50%
Price of both products decreases by 50%
Budget decreases by 50%
Figure 1 shows the indifference curves of a consumer for food and drinks. Which point of consumption bundle will give the highest utility?
Point A
Point B
Point C
Point D
Fill in the blanks in the following sentence.
_______ _______ is the satisfaction gained from consuming an additional quantity of that item.
(a)
In the table shown, what is the marginal utility for the third bottle of water consumed?
5
10
3
8
If total utility increases at a decreasing rate as a consumer consumes more coffee, then marginal utility must:
be negative
be decreasing
remain constant
be increasing
