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If the marginal utility is divided by the price of the commodity then it is called:

A. Real Marginal Utility

B. Gross Marginal Utility

C. Weighted Marginal Utility

D. Money Marginal Utility

Correct Answer : C.


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  2. In the immediate run:
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  4. In non-constant sum game (non-zero sum game), if there are two parties then:
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  6. The largest possible loss that a firm will make in the short run is:
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  8. In Revealed Preference Theory, Samuelson proves P.E = S.E + I.E :
  9. In Edgeworth model, price remains:
  10. The budget line is described by each of the following except:
  11. The nominal income of a consumer is income in terms of:
  12. Law of variable proportions is based on the assumption of:
  13. Elasticity of Substitution (s) is defined as:
  14. Change in demand refers to:
  15. We can measure consumers surplus with the help of
  16. In modern cost theory, AVC= b1 and MC= b1 in the range of:
  17. If the commodity is normal then fall in price will result in:
  18. In the short-run, in which one of the following situations would a competitive seller close down (shut-down)?
  19. In monopolistic competition, the customers are attached with one product because of:
  20. Moving down along a linear demand curve:
  21. The main contribution of Prof. Lord Keynes is in the field of:
  22. The relationship between MC and MP shown by the marginal cost concept is:
  23. When the level of optimal factor combination is over and more labor is employed with the fixed plant,…
  24. In Recardian theory of value, the stress has been made on:
  25. The MC curve cuts the AVC and ATC curves:
  26. Contraction of demand means:
  27. The Law of Equi-Marginal Utility refers to:
  28. Marginal utility is only meant for:
  29. The non-price competition cartel is a:
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