Class XII

Utility of a good can be explained as a?
  1. Monetary value a consumer gains from consuming a particular good
  2. Difference between what a consumer is willing to pay and actually pays
  3. Desire to consume
  4. Satisfaction that a consumer derives from the consumption of a particular good.
One factor that causes a movement along the demand curve of a commodity
  1. Fall in the price of substitute goods
  2. Fall in price of the good
  3. Rise in the price of complementary goods
  4. Rise in income
Which of the following assumption is not necessary for the cardinal utility theory?
  1. Constant marginal utility of money
  2. Cardinal measurability of utility
  3. Rationality of the consumer
  4. Perfectly competitive market
At the saturation point of commodity X, the MUx is?
  1. Negative
  2. Positive
  3. None of these
  4. Zero
Which of the following curve has a negative slope and cannot interest each other?
  1. Isoquants
  2. Indifference curves
  3. Demand and supply curves
  4. None of above
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