Micro

Consumer Behaviour

Medium

Match List-I with List-II

List-I List-II
(A) Increase in price of goods X (I) Increase in demand for normal goods.
(B) Increase in income of consumers (II) Demand is price inelastic
(C) Good X is a necessary good (III) Unit elasticity of demand.
(D) Demand curve of Good X is a rectangular hyperbola (IV) Contraction in demand for good X

Choose the correct answer from the options given below:

List-I	List-II
(A) Increase in price of goods X	(I) Increase in demand for normal goods.
(B) Increase in income of consumers	(II) Demand is price inelastic
(C) Good X is a necessary good	(III) Unit elasticity of demand.
(D) Demand curve of Good X is a rectangular hyperbola	(IV) Contraction in demand for good X

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

✅ Correct Option: 4

Option 4: (A) - (IV), (B) - (I), (C) - (II), (D) - (III) -> Let's match each correctly:

(A) Increase in price of goods X → (IV) Contraction in demand for good X: When price increases, quantity demanded decreases along the same demand curve, known as contraction in demand.

(B) Increase in income of consumers → (I) Increase in demand for normal goods: Normal goods see higher demand when consumer income rises, as people can afford more.

(C) Good X is a necessary good → (II) Demand is price inelastic: Necessary goods (like food, medicines) have inelastic demand because consumers buy them regardless of price changes.

(D) Demand curve of Good X is a rectangular hyperbola → (III) Unit elasticity of demand: A rectangular hyperbola represents the equation P × Q = constant, which mathematically represents unit elastic demand (elasticity = 1). -> correct

2025: 29 May Shift 2

The exceptional case in optimal choice of the consumer is where ..................

2025: 3 June Shift 2

Arrange the following statements showing the change in budget set due to change in income.

(A) The equation of the budget line is $P_1 X_1 + P_2 X_2 = M'$ .

(B) Consumer's income increases from $M$ to $M'$ , but the price of goods remains constant.

(D) Consumers can buy more of the goods at the prevailing market prices.

Choose the correct answer from the options given below:

2022: 16 July Shift 2

A consumer is consuming two goods X and Y.

If Muy=20, Mux=60 price of good Y=Rs 4, then what will be the price of good X if consumer it at equilibrium.

2025: 26 May Shift 2

Match List-I with List-II

List-I	List-II
(A) Marginal rate of substitution	(I) Slope of Budget line
(B) MUₓ/MUᵧ=Pₓ/Pᵧ	(II) more of at least one good and no less of the other good
(C) -(Pₓ/Pᵧ)	(III) Law of equi marginal utility
(D)Monotonic Preferences.	(IV) Slope of Indifference curve

Choose the correct answer from the options given below:

2025: 22 May Shift 2

Which goods are represented by a straight line Indifference Curve?

2025: 2 June Shift 1

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

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