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Theory Of Consumer Behaviour

Question

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A consumer demands more quantity of a commodity when price decreases because

Total utility increases and become more than the price.

Marginal utility becomes more than price.

Marginal utility of money increases with decrease in the price.

Marginal utility decreases with decrease in price.

Solution

B.

Marginal utility becomes more than price.

Some More Questions From Theory Of Consumer Behaviour Chapter

When does a consumer attain equilibrium according to indifference curve approach?

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.

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