Question

1. Objective Type Questions
A. Multiple Choice Questions: Choose the Correct Answer
1. In which analysis can utility be measured in definite numbers such as 1, 2, 3, 4, etc.?
(a) Cardinal utility analysis
(b) Ordinal utility analysis
(c) Both (a) and (b)
(d) None of these
2. Ordinal concept of utility expresses utility in terms of:
(a) units
(b) level of satisfaction
(c) constants
(d) none of these
3. Want satisfying power of a commodity is called:
(a) consumption
(b) utility
(c) production
(d) value addition
4. Formula for calculation of marginal utility is:
(a) MU, - TU, - TU1
(b) MU, - TU1 - TUn-1
(c) MU, TU-TU-1
(d) none of these
5. When only one unit of the commodity is consumed:
(a) MUTU
(b) MU > TU
(c) MU<TU
(d) none of these
6. Which of the following equations is incorrect?
(a) MU = TU...2 -TU1
TU
(b) MU
Q
(d) TU = EMU
22
(c) MU = TU, - TU.-1​

Answer 1

Answer:

1.(b)

2.{a}

3.(c)

4.(b)

5.MUTU(a)

6. (d)