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Theory Of Consumer Behaviour

Question

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Marginal Utility of a commodity

Always decreases with increase in quantity.

Decreases only when total utility decreases.

Decrease but always remain positive.

First increase and start decreasing after reaching maximum point.

Solution

A.

Always decreases with increase in quantity.

Some More Questions From Theory Of Consumer Behaviour Chapter

Give meaning of demand.

Name two determinants of demand.

List the factors that cause changes in demand.

What is law of demand?

What is demand schedule?

Why does demand curve slope downwards?

Differentiate between substitute and complementary goods.

What is meant by one good being substitute of other?

What is meant by one good being complementary to another.

Give an example of a pair of commodities that are substitutes of each other.

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