Class XII

MU1 + MU2 + ……..MUn represents?
  1. Total utility of a commodity
  2. Total marginal utility
  3. Total average utility
  4. None of the above
At what point does total utility starts diminishing?
  1. When marginal utility is negative
  2. When marginal utility is negative
  3. When marginal utility is increasing
  4. When marginal utility remains constant
A rise in the income of the consumer leads to a fall in the demand for commodity ‘x’. What type of good is commodity ‘x’?
  1. Necessity good
  2. Normal good
  3. Snob goods
  4. Inferior good
What is the relationship between slope and the demand curve?
  1. less than 1
  2. 1
  3. 0
  4. Δp Δq
An indifference curve is always?
  1. L-shaped
  2. Convex to the origin
  3. A vertical straight line
  4. Concave to the origin
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