Micro

Consumer Behaviour

Medium

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:

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

(A) - (IV), (B) - (III), (C) - (II), (D) - (I)

(A) - (I), (B) - (III), (C) - (II), (D) - (IV)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

✅ Correct Option: 1

Option 1: (A) - (IV), (B) - (III), (C) - (II), (D) - (I) -> Let's match each concept correctly:

(A) 'Satisfaction derived from consuming the given amount of some commodity x' refers to Total Utility (IV) - this is the aggregate satisfaction obtained from consuming a specific quantity of a good.

(B) 'Change in total utility due to consumption of one additional unit' is Marginal Utility (III) - by definition, marginal utility measures the additional satisfaction gained from consuming one more unit of a commodity.

(C) 'Ranking of various consumption bundles' describes Ordinal Utility (II) - ordinal utility theory focuses on ranking preferences rather than measuring absolute utility values.

(D) 'Downward slope of indifference curve' is explained by Marginal Rate of Substitution (I) - the MRS represents the rate at which a consumer is willing to substitute one good for another while maintaining the same utility level, which causes the indifference curve to slope downward.

Therefore, the correct matching is (A)-(IV), (B)-(III), (C)-(II), (D)-(I). -> correct

2025: 28 May Shift 1

Why indifference curves are convex to origin?

Due to the constant market rate of exchange.
Due to the increasing marginal rate of substitution.
Due to the constant marginal rate of substitution.
Due to a diminishing marginal rate of substitution.

2024: 16 May

Match List-I with List-II :

2025: 13 May Shift 2

Which among the following are the features of the indifference curve?

(A) Indifference curve slopes downwards from left to right.

(B) Higher indifference curve gives greater level of utility.

(D) Two indifference curves never intersect each other.

Choose the correct answer from the options given below:

2026: 11 May Shift 1

Suppose the consumer have 15 rupees to spend on purchasing two goods namely $x_1$ and $x_2$ where the price of $x_1$ is 2.50 and price of $x_2$ is 1.50 then what is the maximum quantity of $x_1$ and $x_2$ at which the consumer's budget line will intersect the axis of the graph if $x_1$ and $x_2$ are represented in the vertical axis and horizontal axis of the graph respectively.

2026: 12 May Shift 1

Arrange the values of the elasticity of demand of the following at different points on a downward straight line demand curve in ascending order.

(A) The point where the demand curve meets the horizontal axis.

(B) The point where the demand curve meets the vertical axis.

(D) At any point to the right of the midpoint of the demand curve.

Choose the correct answer from the options given below:

2026: 23 May Shift 1

The total expenditure on a commodity rises from Rs.100 to Rs.150 as a result of an increase in the price of the commodity from Rs. 10 to Rs.15. Find out the elasticity of demand of this commodity by percentage method.

Solution

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