Balbharati solutions for Economics HSC 12th Standard Maharashtra State Board
Chapter 2 - Utility Analysis [Latest edition]
Q.1 Complete the following statement by choosing the correct alternatives:
In the law of diminishing marginal utility, Alfred Marshall assumes that the marginal utility of money ________.
increases
remains constant
decreases
rises and then falls
As per the law of diminishing marginal utility, the measurement of utility is assumed to be _____.
ordinal
cardinal
both ordinal and cardinal
none of the above
MU of the commodity becomes negative when TU of a commodity is ______.
rising
constant
falling
zero
When MU is falling, TU is _______.
rising
falling
not changing
maximum