Question

1) In the law of diminishing marginal utility,Alfred Marshall assumes that marginal utilityof money.....a) increases b) remains constantc) decreases d) rises and then falls2) As per the law of diminishing marginal utility,measurement of utility is assumed to be .....a) ordinalb) cardinalc) both ordinal and cardinald) none of the above3) MU of the commodity becomes negative whenTU of a commodity isa) rising b) constant c) falling d) zero4) Point of Satiety meansa) TU is rising and MU is fallingb) TU is falling and MU is negativec) TU is maximum and MU is zerod) MU is falling and TU is rising.5) When MU is falling, TU is..........a) risingb) fallingc) not changing d) maximum​

Answer 1

Answer:

Q1. Ans B

Q2. Ans B

Q3. Ans C

Q4. Ans C

Q5. Ans A (When TU is rising at diminishing rate, MU is falling but positive. When TU is maximum and constant MU. is zero. TU starts falling MU is negative.)

Explanation:

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