Question # 1

A statement of how one variable affects other variable is

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a quadrant

a variable

an assumption

a functional relationship

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.

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)

To measure changes in purchasing power of money, we use

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percentages

index numbers

averages

variables

Law of diminishing marginal utility provides basis for:

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Law of demand

Law of supply

Laws of returns

Law of variable proportions

The relationship between two variables that move in the same direction is called

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neutral

positive

independent

dependent

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

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

How many kinds of equations?

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4

3

2

5

Constant are represented by symbol

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C

V

P

U

How many kinds of Function

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2

3

4

5

According to law of diminishing marginal utilities , a consumer maximises his total utility where.

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MU_a = MP_a

MU_a = AU_a

MU_a = TC_a

MU_a = P_a

A bridge will be a

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Private good

Capital goods

Consumer good

Personal good

This is a tool in economic studies

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market

price

firm

functional relation

Initial utility of a product is :

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Highest

Lowest

Conatant

None of them

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

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

Variable are represented by symbol

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V

U

P

C

A ______ is something which is measurable and can take on different values

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Variable

Constant

Both a and b

None of these

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