11th Principles of Economics MCQS
Utility attained by consuming an additional or last unit of a commodity
Marginal utility
Zero utility
Negative utility
Positive utility
Which law provides the base of law of demand
Law of diminishing marginal utility
Law of supply
Law of equi marginal utility
Law of decreasing return
Total utility increases when marginal utility is
Minimum
Negative
Zero
Positive
When marginal utility is zero, then total utility is
Maximum
Minimum
Positive
Zero
Curve of law of diminishing marginal utility
It is parallel to ox-axis
Moves from left to right downward
Firstly it has a tendency to rise up and after a certain limit it starts falling
Moves from left to right upward
Total utility decreases when marginal utility is
Maximum
Negative
Positive
Zero
One of the following is not assumption of law of diminishing marginal utility
Same nature of the commodity
No change in consumers mental condition
Consumption of the commodity with intervals
Suitable quantity of the commodity
Initial utility is ______ individual utilities of all the units
Equal to
None of these
Less than
More than
According to which economist, utility is measureable
Marshall
Adam smith
Keynes
Robbins
The name of first law of consumption is
Law of equi marginal utility
Law of demand
Law of diminishing marginal utility
Law of supply
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