Question

1. A) Complete the following statements by
choosing the correct alternatives.
1) In the law of diminishing marginal utility,
Alfred Marshall assumes that marginal utility
of money...
a) increases
c) decreases
b) remains constant
d) rises and then falls
2) As per the low of diminishing marginal utility,
measurement of utility is assumed to be
a) ordinal
b) cardinal
c) both ordinal and cardinal
d) none of the above
3) MU of the commodity becomes negative when
TU of a commodity is
a) rising b) constant c) falling
d) zero
4) Point of Satiety means
a) TU is rising and MU is falling
b) TU is falling and MU is negative
c) TU is maximum and MU is zero
d) MU is falling and TU is rising.
5) When MU is falling, TU is..........
a) rising b) falling
c) not changing d) maximum​

Answer 1

Answer:

1.d

2.b

3.c

4.c

5.c

Explanation:

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