Micro

Consumer Behaviour

Easy

Which line consists of all bundles that cost exactly equal to consumer income?

Production possibility curve

Isocost line

Budget line

Isoquant line

✅ Correct Option: 3

The budget line shows all bundles of two goods whose total cost exactly equals the consumer's income: $p_1x_1 + p_2x_2 = M$ . The isocost line is the analogous concept for a producer's inputs, not a consumer. Hence the answer is budget line.

2026: 6 June Shift 1

Match List-I with List-II

List-I	List-II
(A) Demand function	(I) Change in total utility due to consumption of one additional unit of a commodity.
(B) Indifference curves	(II) The relation between the consumer's optimal choice of the quantity of a good and its price.
(C) Marginal utility	(III) The level of utility that can be expressed in numbers.
(D) Cardinal utility	(IV) Never intersect each other.

Choose the correct answer from the options given below:

2023: 20 June Shift 1

Arrange the following of elasticities of demand in increasing order as per geometric method.

A. Mid-Point of the demand curve

B. Intercept on Y-axis

C. Between Mid-Point and intercept on X-axis

D. Between Mid-Point and intercept on Y-axis

E. Intercept on X-axis

Choose the correct answer from the options given below:

2025: 30 May Shift 2

Match List-I with List-II

List-I	List-II
(A) Substitution effect stronger than the income effect	(I) Inferior goods
(B) Income effect stronger than the substitution effect	(II) Complementary goods
(C) Demands and income move opposite direction	(III) Normal goods
(D) Goods consumed together	(IV) Giffen goods

Choose the correct answer from the options given below:

2023: 1 June Shift 1

Savita consumes 2 goods X and Y. If marginal utility of X is 30 utils and that of Y is 45 utils. Prices of both goods X and Y are Rs. 3 and Rs. 5 respectively. Savita will consume ________.

2023: 29 May Shift 2

"Increase in price of good 'x' leads to increase in demand of good 'Y'. " How the goods are related to.

2025: 22 May Shift 2

Which goods are represented by a straight line Indifference Curve?

Which line consists of all bundles that cost exactly equal to consumer income?

Solution

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