CUET Economics - According to the Theory of Consumer Behaviour, P_1X_1 + P_2X_2 ≤ M is called the Consumer's _____________ | PYQs + Solutions

CUET Economics

Micro

Easy

Budget

Budget Set

Budget Constraint

Budget Behaviour

✅ Correct Option: 3

Related questions:

28 May Shift 2

Choose the correct statements in the context of the law of diminishing marginal utility

(A) States that each successive unit of a commodity provides lower marginal utility.

(B) States that each successive unit of a commodity provides higher marginal utility.

(D) States that the marginal utility from consuming each additional unit of a commodity declines as its consumption increases, while keeping consumption of other commodities constant.

Choose the correct answer from the options given below:

13 May Shift 2

Match List-I with List-II

List-I	List-II
(A) Satisfaction derived from consuming the given amount of some commodity x.	(I) Marginal rate of substitution.
(B) Change in total utility due to consumption of one additional unit of a commodity.	(II) Ordinal Utility
(C) Ranking of various consumption bundle.	(III) Marginal Utility
(D) Downward slope of indifference curve.	(IV) Total Utility

Choose the correct answer from the options given below:

30 May Shift 1

What will be the value of Marginal utility of the 4th unit

Units consumed	Total Utility derived (utils)
1	10
2	8
3	5
4	2

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