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Consumer Behavi...

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  • Question 1
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    The elasticity of demand on different points on a linear demand curve is different. It is

     

  • Question 2
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    What does monotonicity of preferences imply?

     

  • Question 3
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    What will you say about MU when TU is maximum?

     

  • Question 4
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    Suppose a consumer ’s preferences are monotonic. What can you say about his preference ranking over the bundles (10,10),(10,9) and (9,9)?

     

  • Question 5
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    Suppose the price elasticity of demand for a good is –0.2. How will the expenditure on the good be affected if there is a 10 % increase in the price of the good?

     

  • Question 6
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    A consumer buys 50 units of a good at Rs. 4/- per unit. When its price falls by 25 percent its demand rises to 100 units then the price elasticity of demand will be

     

  • Question 7
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    Price elasticity of demand for wheat is equal to unity and a household demands 40 Kg of wheat when the price is Rs.1 per kg. At what price will the household demand 20 kg of wheat?

     

  • Question 8
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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 9
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    In case of relatively more elastic, demand curve is:

     

  • Question 10
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    Which of the following statements is true about consumer behaviour?

     

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