___________ is the rate at which a consumer is willing to substitute good Y for good X.
Anonymous Quiz
34%
Opportunity cost
13%
Opportunity gain
45%
Marginal rate of substitute
8%
Marginal cost
๐25
Formula for MRS is ____________
Anonymous Quiz
39%
Loss of good Y / gain of good X
30%
Loss of good X / gain of good Y
24%
Gain of good y / loss of good X
7%
Gain of good X / loss of good
๐34๐4
MRS abbreviated as _________
Anonymous Quiz
70%
Marginal Rate of Substitution
13%
Marginal Rate of Subtracted
13%
Margin Rate of Solvency
4%
None
๐29๐5
____________ is a line showing different combinations of two goods which a consumer can buy by spending his whole income at a given price of the goods.
Anonymous Quiz
11%
Budget bundle
18%
Budget set
49%
Budget line
22%
All of the above
๐59๐31
๐46๐5
___________ is the total satisfaction a consumer gets from consumption of all units of a commodity
Anonymous Quiz
23%
Utility
62%
Total utility
14%
Marginal utility
๐56๐1
____________ is the net increase in total utility by consuming an additional unit of a commodity.
Anonymous Quiz
15%
Utility
75%
Marginal utility
10%
Total utility
๐77
Business_Communication_for_B_Com_course_of_Uttar_Pradesh_Universities.pdf
3.7 MB
Business Communication
Pearson Publication
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