According to ----------- when income increases by a small increment, it leads to increasing marginal utility of income

Related MCQs

• If you know that the marginal utility per rupees spent on product Alpha is less than the marginal utility per rupees spent on product Beta, consumers who spend all their income on these two products can:
• The reason the marginal cost curve eventually increases as output increases for the typical firm is because:
• A consumer is in equilibrium and is spending income in such a way that the marginal utility of product X is 40 units and Y is 16 units. The unit price of X is Rs.5. The price of Y is:
• Which of the following defines marginal utility?
• Which best expresses the law of diminishing marginal utility?
• Which situation is consistent with the law of diminishing marginal utility?
• The firm’s short-run marginal-cost curve is increasing when:
• A consumer with a fixed income will maximize utility when each good is purchased in amounts such that the:
• Increasing returns to scale can be explained in terms of:
• The marginal product of labour curve shows the change in total product resulting from a: