CUET Economics 2025 31 May Shift 1 PYQs

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.

(C) Till, Marginal Rate of Substitution (MRSxy) = Market Rate of Exchnage.

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

Choose the correct answer from the options given below:

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.

(C) Explains why demand curves have a negative slope.

(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:

A consumer spends all his income of Rs 6000 on two goods - Food and clothing and is buying 12 units each of both the goods. At the present level of consumption, the marginal rate of substitution of clothing for food is 3. The price of food per unit is Rs. 400 whereas that of clothing is Rs. 100. What should a consumer do to attain the equilibrium?