Home

We can write ordinal utility function as:

A. U = x1 x2

B. U = x1 + x2

C. U = y1 +x1

D. U = x1.x2

Correct Answer : D.


Download Objective type questions of Basics of Economics PDF

Visit our PDF store

Get all objective type questions of Basics of Economics MCQ

Also checkout these categories

Design of Masonry Structures MCQ Steam Boilers, Engines, Nozzles & Turbines MCQ Endocrine System MCQ Sentence Correction MCQ Mechanical Engineering MCQ Phylum - Arthropoda MCQ Logarithm MCQ WAN MCQ Thermo Electricity MCQ Phylum - Annelida MCQ Boats and Streams MCQ Change of State MCQ

Please do not use chat terms. Example: avoid using "grt" instead of "great".

Submit
Load More..
You can do it
  1. The firm is at equilibrium where:
  2. Increasing return to scales can be explained in terms of:
  3. A good tends to have relatively inelastic demand, if:
  4. The engineering production function and engineering costs curves are concerned with the:
  5. The fundamental choices that a society must make about the use of its resources include:
  6. Which of the following conditions is met in the long-run equilibrium in monopolistic competition, where…
  7. The slope of an iso-quant represents:
  8. At low prices, demand is likely to be:
  9. Increasing returns is not caused by:
  10. Price leadership is associated with:
  11. If X and Y are close substitutes, a rise in the price of X will lead to:
  12. If money income is given then consumer is in equilibrium when:
  13. In the case where two commodities are good substitutes then cross elasticity will be:
  14. According to Smith, by value we mean the value with respect to use, and the price we mean the value…
  15. The alternative of profit maximization theory is:
  16. In short run, a firm would remain in business as long as which one of the following of cost is covered?
  17. If X and Y are close substitutes, a fall in price of X will lead to:
  18. According to Marshal, the Law of Diminishing Marginal Utility:
  19. When AC curve falls, MC curve falls:
  20. The long run average cost curve is:
  21. The cobweb model will convergent when the slope of:
  22. In the real world, some competitive firms owns specialized resources that earn a return called:
  23. General equilibrium is concerned with simultaneous equilibrium of:
  24. The relationship between AC and MC curves depend upon the behavior of:
  25. When total product increases at a decreasing rate:
  26. At the shut-down point in perfect competition:
  27. A profit-maximizing monopolist in two separate markets will:
  28. Price elasticity of demand is best defines as:
  29. The main objective of the firm is to:
  30. Cross-elasticity of demand or cross-price elasticity between two perfect complements will be: