| 1 |
How many kinds of data? |
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| 2 |
Variable are represented by symbol |
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| 3 |
Law of equi marginal utility provides basis for. |
- A. Equal distribution of wealth
- B. Economy in taxation
- C. Law of diminishing returns
- D. Law of constant returns
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| 4 |
<div>When marginal utility of a product is zero its total utility will be.</div> |
- A. Increase
- B. Decreasing
- C. Maximum
- D. Constant
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| 5 |
The maintain social status in life, a person requires. |
- A. Bare necessities of life
- B. Comforts of life
- C. Luxuries of life
- D. All of them
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| 6 |
This is a tool in economic studies |
- A. market
- B. price
- C. firm
- D. functional relation
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| 7 |
Marginal utility of a product is the utility obtained by consuming. |
- A. First unit of consummption
- B. Each additional unit of consumption
- C. Last unit of consumption
- D. None of the them
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| 8 |
Who introduced indifference curves to explain consumer's beghavior |
- A. J.R Hicks
- B. Marshall
- C. Robbins
- D. Adam Smith
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| 9 |
According to law of diminishing marginal utilities , a consumer maximises his total utility where. |
- A. MU<sub>a</sub> = MP<sub>a</sub>
- B. MU<sub>a</sub> = AU<sub>a</sub>
- C. MU<sub>a</sub> = TC<sub>a</sub>
- D. MU<sub>a</sub> = P<sub>a</sub>
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| 10 |
Law of diminishing marginal utility provides basis for: |
- A. Law of demand
- B. Law of supply
- C. Laws of returns
- D. Law of variable proportions
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