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Consumers Equil...

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  • Question 1
    1 / -0

    What will you say about MU when TU is maximum?

  • Question 2
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    Which of the following law states that the more a consumer consumes of a product the less is the utility he derives from the additional consumption?

  • Question 3
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    According to Marshall, the law of diminishing marginal utility applies on ___________.

  • Question 4
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    A movement along a given indifference curve is known as:

  • Question 5
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    What is the concept of 'total utility' in consumer theory?

  • Question 6
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    In consumer theory, what does the term 'utility' represent?

  • Question 7
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    What is the concept of 'elasticity of demand' used for in economics?

  • Question 8
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    Indifference curve slopes___________.

  • Question 9
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    When total utility increases, marginal utility is _________.

  • Question 10
    1 / -0

    The law of demand states that:

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