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CUET Economics 2024

Economics
>
Consumer Behaviour & Demand

Easy

(A) Marginal Utility is the change in Total Utility due to consumption of one additional unit of \newline commodity. \newline \newline (B) Two Indifference Curves intersect each other. \newline \newline (C) Marginal Utility becomes Zero at a level when Total Utility remains constant. \newline \newline (D) Diminishing Marginal Rate of Substitution does not affect Indifference Curve. \newline \newline (E) Indifference Curve slopes downwards from left to right.

Which of the following are correct statements?

Correct Option: 2
    \newline
  1. (A) is correct -> Marginal Utility is change -> in Total Utility.
    2. \newline
  2. (B) is wrong -> Indifference Curves do -> not intersect each other.
    3. \newline
  3. (C) is correct -> Marginal Utility becomes -> Zero at constant Total Utility.
    4. \newline
  4. (D) is wrong -> Diminishing Marginal Rate -> affects Indifference Curve.
    5. \newline
  5. (E) is correct -> Indifference Curve slopes -> downwards from left to right.

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