Complete the following statement by choosing the correct alternatives Chapter 2 - Utility Analysis Latest edition

Balbharati solutions for Economics HSC 12th Standard Maharashtra State Board 

 

Chapter 2 - Utility Analysis [Latest edition]

Q.1 Complete the following statement by choosing the correct alternatives:

 

In the law of diminishing marginal utility, Alfred Marshall assumes that the marginal utility of money ________.

increases

remains constant

decreases

rises and then falls

 

As per the law of diminishing marginal utility, the measurement of utility is assumed to be _____.

ordinal

cardinal

both ordinal and cardinal

none of the above

 

MU of the commodity becomes negative when TU of a commodity is ______.

rising

constant

falling

zero

 

When MU is falling, TU is _______.

rising

falling

not changing

maximum