206. And that of your own following try/would be the condition’s of idea off user surplus if the price is exact same for all the gadgets he ordered? (a) Consumer increases extra power or surplus (b) User extra going back item try zero (c) Both (d) None Address: (c) One another
207. The concept of customer’s excess comes from: (a) What the law states out-of shrinking limited power (b) The law from equivalent-limited electricity (c) Regulations off diminishing efficiency (d) Engel’s legislation Address: (a) Regulations regarding diminishing marginal energy
210. The new apathy contour study lies in ________ utility. (a) Ordinal (b) Cardinal (c) Decimal (d) Numeric Answer: (a) Ordinal
211. Which is not a presumption of the idea out-of consult centered on studies out of apathy shape? (a) Provided size off needs as anywhere between different combos out of several goods. (b) Diminishing marginal speed away from replacing. (c) Lingering marginal power of money. (d) People create always favor more of a certain advisable that you reduced from it, anything else kept a comparable. Answer: (c) Lingering limited electric of cash.
212. (a) Mountains downwards on the right (b) Constantly convex towards source (c) Intersects each other (d) Will not contact sometimes of one’s axes Address: (c) Intersects one another
213. (a) IC was convex towards supply (b) IC scopes down off kept so you can proper (c) One or two IC can contact each other (d) IC usually do not reach often of your axis Respond to: (c) A few IC can be reach both
214. An apathy curve slopes down to your proper because a lot more of you to definitely com-modity and less of some other produce: (a) Exact same quantity of satisfaction. (b) Higher fulfillment. (c) Restrict pleasure. (d) All above. Answer: (a) Exact same amount of fulfillment.
215. And this of your after the is an excellent prop-erty from an apathy contour? (a) 
It is convex with the resource. (b) The newest limited rate away from replacement are constant as you move along an apathy bend. (c) Limited power are lingering because you disperse together an apathy bend. (d) Total energy was better where forty five training line cuts brand new indiffer-ence contour. Answer: (a) It’s convex on the supply.
An IC reveals ________ MRS between the product?
217. The fresh contour lower than reveals the fresh finances restriction away from a buyers with an income from ? 900 to spend towards the two commodities, namely ice cream and you can chocolates.
The values of the two products respectively is: (a) ? 10 and you may ? 20 (b) ? 20 and you can ? 10 (c) ? 10 and ? 5 (d) The significantly more than. Answer: (b) ? 20 and ? 10
218. Apathy curve is actually L shaped upcoming a couple of products was: (a) Best replacement services and products (b) Replace services and products (c) Finest complementary goods (d) Subservient merchandise Answer: (c) Finest subservient goods
And therefore of your own following isn’t the property regarding indifference contour?
219. And this of the after the statements was completely wrong? (a) An indifference contour must be down-slanting to the right. (b) Convexity regarding a curve means that the brand new slope of one’s bend diminishes as a whole moves regarding left in order to right. (c) The funds flexibility having inferior products to a customer is self-confident. (d) The total aftereffect of a modification of the expense of an excellent a to the their numbers needed is named the cost ef¬fect. Answer: (c) The funds flexibility to possess second-rate products to a consumer try self-confident.
220. A spot below the funds collection of a consumer ________. (a) Stands for a combination of goods and this can cost you the whole regarding client’s money. (b) Represents a mixture of goods and that can cost you lower than the newest client’s money. (c) Represents a variety of services and products that’s close to impossible on the user given his/the girl money money. (d) Is short for a combination of products and that can cost you more the brand new consumers’ income. Answer: (b) Represents a mix of merchandise and that costs below the new consumer’s income.