The utility of a commodity is:

Related MCQs

• A fall in the price of a commodity whose demand curve is a rectangular hyperbola causes total expenditure on the commodity to:
• A consumer with a given income will maximise their utility when:
• A utility function shows the relation between …..
• Law of equi-marginal utility was suggested by
• The utility may be defined as:
• Marginal utility curve of a given consumer is also his:
• A fall in the price of a commodity leads to
• Demand for a commodity is elastic when it has:
• The horizontal demand curve for a commodity shows that its demand is:
• The relationship between demand for a commodity and price, ceteris paribus, is: