WorksheetsChapter 5 Consumer Behavior and Utility Maximization
Total questions: 10
Worksheet time: 5mins
Which of the following statement is true for Theory of Consumer Behaviour?
To reduce the risk in purchasing
To maximize their benefits or sense of achievement
To increase the awareness be a smart consumer
To increase the income
Which following is one of the Theory of Consumer Behavior?
Cardinal Utility Theory
Supply and Demand
Marginal Utility
Laissez-faire Capitalism
The unit used to measure the utility is called...
kilogram
unit
util
RM
The principle of the budget constraint...
Factor which affect budget constraint are...
Number of goods
Price of goods
Types of goods
Market Need
How many assumptions considered in the analysis of the indifference curve?
Two
Five
None
Four
When Total Utility is increasing, Marginal Utility will be ________.
zero
negative
positive
one
The following are the characteristics of indifference curves except...
Sloping upward
Bowed or convex to origin
Does not cross
Further from the origin is more preferable
Consumer utility maximization occurs when the indifference curve is ________ to budget constraint.
less
tangent
more
zero
Calculate the Marginal Utility per dollar (MU/P)
One milk tea costs RM8. Siva bought two and the Marginal Utility is 60 utils.
7.5
3.75
30
4
