Free Online MCQ Questions of CBSE Class 11 Microeconomics Chapter 3 – Consumer’s Equilibrium (Utility Analysis) with Answers. Free Online MCQ Questions for Class 11 Microeconomics with Answers was Prepared Based on Latest Exam Pattern. Students can solve NCERT Class 11 Microeconomics Consumer’s Equilibrium (Utility Analysis) Current Multiple Choice Questions with Answers to know their preparation level on Success Roar Classes Website itself.
Here you will find a series of Free MCQ on Consumer’s Equilibrium (Utility Analysis) for Class 11th. This article consists of MCQ related to the topic “Consumer’s Equilibrium (Utility Analysis)”.
Free Online MCQ Questions of Class -11 Microeconomics
Chapter 3 – Consumer’s Equilibrium (Utility Analysis) with Answers
- After reaching the saturation point, consumption of additional units of the commodity cause:
- Total utility to fall and marginal utility to increase.
- Total utility and marginal utility both to increase.
- Total utility to fall and marginal utility to become negative.
- Total utility to become negative and marginal utility to fall.
- Marginal utility approach to demand was given by ________________________________________.
- J.R. Hicks
- Alfred Marshall
- AC Pigou
- Which one of the following assumptions is not necessary for the cardinal utility theory?
- Rationality of the consumer
- Constant marginal utility of money
- Perfectly competitive market
- Additivity of utility
- Law of diminishing marginal utility may not apply to-
- Pepsi, Coke, etc.
- Ice cream
- The law of equi marginal utility considers price of money as:
- less than one
- more than one
- When economists speak of the utility of a certain good, they are referring to:
- the demand for the good
- the usefulness of the good in consumption
- the satisfaction gained from consuming the good
- the rate at which consumers are willing to exchange one good for another
- Suppose that the price of a new bicycle is ₹ 200. Natalie values a new bicycle at ₹400. What is the value of total consumer surplus if Natalie buys a new bike?
- The difference between the price a consumer is willing to pay and the price he actually pays is called-
- Excess Price
- Excess Demand
- Consumer Surplus
- The satisfaction which a consumer derives in the consumption of a commodity is equal to ₹ 320. The price of that commodity is ₹180. What will be his consumer surplus?
- The aim of the consumer in allocating his income is to –
- maximize his total utility
- maximize his marginal utility
- to buy the goods he wants most whatever the price
- to buy the goods which he expects to be short in supply
MCQ Questions of CBSE Class 11 Microeconomics Chapter 3 – Consumer’s Equilibrium (Utility Analysis)
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