CUET Economics - The rate at which the consumer is able to substitute one good for the other in the market is called? | PYQs + Solutions

CUET Economics 2025 29 May Shift 2

Micro

Easy

Price Ratio.

Marginal rate of substitution.

Marginal rate of technical substitution.

Diminishing marginal rate.

✅ Correct Option: 1

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What causes an indifference curve to be convex to the origin?

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The Law of Diminishing Marginal Utility states that when more and more units of a commodity are consumed, Marginal Utility __________

22 May Shift 2

Arrange the following concept emerges in context of consumer equilibrium.

(A) Transfer his expenditure from Good Y to Good X.

(B) Sacrifice more of Good Y to gain Good X.

(D) Suppose, Marginal Rate of Substitution (MRSxy) > Market Rate of Exchnage.

Choose the correct answer from the options given below:

CUET Economics 2025 29 May Shift 2 PYQs