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The necessary conditions under utility a...

The necessary conditions under utility approach to attain consumer's equilibrium in case of two commodity is:

A

`(MI_(X))/(P_(X)) = (MU_(Y))/(P_(Y))`

B

`MRS_(X) = (P_(X))/(P_(Y))`

C

`MU_(x) = P_(x)`

D

None of these

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The correct Answer is:
A
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SANDEEP GARG-CONSUMER'S EQUILIBRIUM-Revision Exercise
  1. Which of these is not a property of indifference curve ?

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  2. Indifference curves are convex to the origin because of:

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  3. The necessary conditions under utility approach to attain consumer's e...

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  4. When we add up utility derived from consumption of all the units of th...

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  5. Marginal Utility (MU) in terms of money is equl to:

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  6. According to the Law of diminishing marginal utility, satisfaction obt...

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  7. Indifference Map refers to:

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  8. Budget set inculdes:

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  9. Indifference curves are :

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  10. Which of these is a conditions for consumer's equilibrium by indiffere...

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  11. If (MU(X))/(P(X)) gt (MU(Y))/(P(Y)), then to reach the equilbrium posi...

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  12. If the consumption of an additional unit of a commodity casues no chan...

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  13. An indifference curve is best described as a series of points which sh...

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  14. Total Utility is at the point of satiety:

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  15. Marginal Utility (MU) of n^(th) unit is calculated as:

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  16. In case of single commodity, consumer's equilibrium is achieved when:

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  17. measures the slope of indifference curve.

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  18. In the following diagram of budget line, point ''D'' represents :

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  19. How is TU derived from MU ?

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  20. What happends to MU when TU is maximum ?

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