Question # 1

One of the following is not an exception to the law of diminishing marginal utility .

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Money

Knowledge

Music

Non of them

Law of equi marginal utility provides basis for.

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Equal distribution of wealth

Economy in taxation

Law of diminishing returns

Law of constant returns

Total utility is maximised when.

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Marginal utility is zero

Marginal utility falls

Marginal utility rises

Non of the above

How many kinds of equations?

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4

3

2

5

This is a tool in economic studies

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market

price

firm

functional relation

A contour line which slopes downward from left to right and yield equal level of satisfaction to consumer with the given income is.

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Negatively slop curve

An indifference curve

Positively sloped Curve

None of the above

The utility of an additional unit of a product is

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Law of demand

Law of substitution

Law of supply

Law of diminishing marginal utility

______ is a science which is concerned with the collection, presentation, and interpretation of numerical data

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Statistics

Economics analysis

Function

None of these

When the classify data on the basis of income there will be

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class intervals

class numbers

groups

sections

Constant are represented by symbol

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C

V

P

U

When marginal utility of a product is zero its total utility will be.

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Increase

Decreasing

Maximum

Constant

3x²=0 is an equation

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linear

quadratic

general

first degree

One of the following will not be an assumption of the law of diminishing marginal utility.

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Nature of the product should not changed

Mental condition of the consumer

Income of the consumer should not changed

None of the three

Who introduced indifference curves to explain consumer's beghavior

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J.R Hicks

Marshall

Robbins

Adam Smith

In mathematics which letters at the end of alphabet are used to represent variables

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(u,v,w,x,y,z)

(a,b.c.d.e.f.g)

(a.b.c.u.v.w)

((x,y,z,a,b,c)

Which is the general form of quadratic equation

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x²-x-20 = 0

ax²+bx +c = 0

x²- x -c =0

None of these

How many Kinds of variables?

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There are many kinds of variables

There are 2 kinds of variables

There are 3 kinds of variables

There are 4 kinds of variables

Marginal utility of a product is the utility obtained by consuming.

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First unit of consummption

Each additional unit of consumption

Last unit of consumption

None of the them

Law of equimarginal utility is also called.

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Law of substitution

Law of maximum social benefits

Law of economy

Law of maximum satisfaction

According to law of equi-marginal utility a consumer will maximises his total utility when

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He spends all his income on the product only

He spends more on one and less on the other

Marginal utility of the two goods are equalised

Not only the marginals utility of the two goods are equalised, but also the marginal utility of each good is equal to its price.

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