Micro

Consumer Behaviour

Medium

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:

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

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

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

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

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

✅ Correct Option: 4

Option 4: (A) - (IV), (B) - (III), (C) - (I), (D) - (II) -> Let's understand each matching: (A) Marginal Rate of Substitution (MRS) is the slope of the indifference curve, representing the rate at which a consumer is willing to substitute one good for another while maintaining the same level of satisfaction, hence matches with (IV). (B) MUₓ/MUᵧ=Pₓ/Pᵧ is the consumer equilibrium condition expressing the law of equi-marginal utility, which states that at optimal consumption, the ratio of marginal utilities equals the ratio of prices, hence matches with (III). (C) -(Pₓ/Pᵧ) represents the slope of the budget line, showing the rate at which the market allows substitution between goods based on their prices, hence matches with (I). (D) Monotonic Preferences means consumers always prefer more of at least one good and no less of the other good (the 'more is better' principle), hence matches with (II). -> correct

2026: 21 May Shift 2

Given the prices of goods and income of the consumers, the consumer can buy any bundle (X $_1$ , X $_2$ ) such that P $_1$ X $_1$ + P $_2$ X $_2$ ≤ M. This inequality in the above equation is called__________.

2026: 31 May Shift 1

If the income effect is stronger than the substitution effect, the demand for the good would be positively related to its price. Such goods are called:

2025: 27 May Shift 2

Match List-I with List-II

List-I	List-II
(A) Consumer's income changes, but prices remain unchanged. The equation of the budget line.	(I) p₁ x₁ + p₂ x₂ = M'
(B) Marginal Rate of Substitution (MRS)	(II) p'₁ x₁ + p₂ x₂ = M
(C) The price of a commodity changes, but income remains unchanged. The equation of the budget line.	(III) Δ Y/ΔX
(D) Total Utility	(IV) $MU₁ + MU₂ + ... + MU_{n-1} + MU_n$

Choose the correct answer from the options given below:

2025: 28 May Shift 2

Match List-I with List-II

List-I	List-II
(A) Slope of Budget line	(I) $P_1X_1 + P_2X_2 \leq M$
(B) Horizontal intercept of budget line	(II) $M/P_2$
(C) Vertical intercept of budget line	(III) $-\frac{P_1}{P_2}$
(D) Budget constraints	(IV) $M/P_1$

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.

2025: 2 June Shift 1

Match List-I with List-II

List-I	List-II
(A) Consumer's equilibrium	(I) ΔY/ ΔX
(B) Slope of IC	(II) Budget line rotates to the right starting from the Y axis
(C) Px falls	(III) Consumer should move downwards to the right along the IC
(D) MRSxy > Px/Py	(IV) Optimum choice of the consumer

Choose the correct answer from the options given below:

Solution

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