Hicks and Allen believed that utility:

Related MCQs

• When the expected utility is greater than utility of the certail income
• Total utility is
• “Utility or satisfaction is a subjective concept; therefore it could only be ranked”. The statement supports
• Marginal utility for money is positive in case of
• The marginal utility curve of income curve is a straight line for
• A consumer will start buying less of good- X and more of Good-Y, when
• If the price elasticity is between 0 and 1, demand is