Micro

Consumer Behaviour

Easy

A consumer derives 10 utilities of satisfaction from consuming 1st unit of good X and 6 utilities of satisfaction from the next unit. What is the marginal utility of the second unit?

10 utils.

14 utils.

6 utils.

16 utils.

✅ Correct Option: 3

Option 3: 6 utils -> Marginal utility is the additional satisfaction gained from consuming one more unit of a good. Since the consumer derives 6 utilities of satisfaction from the second unit, the marginal utility of the second unit is 6 utils. Note that marginal utility refers to the utility from that specific unit, not the cumulative total (which would be 10+6=16 utils). -> correct

2022: 15 July Shift 2

The downward movement along the demand curve of a commodity is due to:

Choose the correct option.

2022: 30 Aug Shift 2

Match List - I with List - II.

List - I	List - II
(A) Fall in price of good	(I) Tea and coffee
(B) Complementary goods	(II) Expansion of demand
(C) Substitute good	(III) Shifting of demand curve
(D) Rise in income	(IV) Shoes and socks

Choose the correct answer from the options given below :

2026: 12 May Shift 1

The indifference curve for goods $x_1$ and $x_2$ is sloped downwards when?

2024: 16 May

When Elasticity of Demand Curve is 1 at every point on the Demand Curve, this curve is known as:

2022: 15 July Shift 2

Budget set of a consumer is defined as:

2025: 21 May Shift 1

Arun spends 200 rupees on good X irrespective of its price whereas Varun buys 10 units of Good X irrespective of its price. The respective values of the price elasticity of demand for Good X for both the consumers is

A consumer derives 10 utilities of satisfaction from consuming 1st unit of good X and 6 utilities of satisfaction from the next unit. What is the marginal utility of the second unit?

Solution

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