Question 1 :
Work of Professionals like Doctors, Accountants, etc. can be considered under ________________.

Question 2 :
Suppose income of the residents of a locality increases by&#160;<span class="MathJax_Preview"><span class="MathJax"><span class="math"><span class="mrow"><span class="mn">50<span class="MJX_Assistive_MathML">50% and the quantity of gel pens demanded increases by&#160;<span class="MathJax_Preview"><span class="MathJax"><span class="math"><span class="mrow"><span class="mn">20<span class="MJX_Assistive_MathML">20%.&#160;We can say that gel pen in economics sense is a/an ______.

Question 3 :
A negative income elasticity of demand for a commodity indicates that as income falls the amount of the commodity purchased ________.

Question 4 :
Suppose the price of Pepsi increase, we will expect the demand curve of Coca Cola to.

Question 5 :
If factor inputs are perfect substitute for each other the marginal rate of technical substitution will be _________.<br/>

Question 10 :
From the following data answer the question:<br/><table class="wysiwyg-table"><tbody><tr><td>Slices of Bread</td><td>Total Utility</td><td>Average Utility</td><td>Marginal Utility</td></tr><tr><td>1</td><td>40</td><td>40</td><td>40</td></tr><tr><td>2</td><td>78</td><td>---</td><td>38</td></tr><tr><td>3</td><td>---</td><td>---</td><td>35</td></tr><tr><td>4</td><td>144</td><td>36</td><td>31</td></tr><tr><td>5</td><td>170</td><td>---</td><td>---</td></tr><tr><td>6</td><td>---</td><td>31.7</td><td>20</td></tr><tr><td>7</td><td>---</td><td>---</td><td>13</td></tr><tr><td>8</td><td>---</td><td>26</td><td>5</td></tr><tr><td>9</td><td>---</td><td>---</td><td>-4</td></tr></tbody></table>What is the average utility at 3rd unit?

Question 12 :
The total area under the demand curve of a good measures _________.

Question 13 :
If total utility of 12 mangoes is 120 and that of 13 mangoes is 125, the marginal utility is ________.

Question 14 :
When the elasticity of demand is low, the MR is ________.<br/>

Question 19 :
If the price of coffee suddenly shoots up, the demand for tea is expected to ______.

Question 20 :
According to the law of diminishing marginal utility, at what rate does total utility increase and what happens to marginal utility?

Question 21 :
Match List - I with List - II and select the correct code for the answer:<br><table class="wysiwyg-table"><tbody><tr><td>List - I</td><td>List - II</td></tr><tr><td>(a) Cross elasticity is zero</td><td>1. $Price = AVC$</td></tr><tr><td>(b) Shut-down point</td><td>2. Two commodities are independent</td></tr><tr><td>(c) Slutsky theorem</td><td>3. Transformation line</td></tr><tr><td>(d) Production Possibility Curve</td><td>4. Substitution effect</td></tr></tbody></table>

Question 22 :
When the price of a substitute of a commodity X falls, then the demand for X.

Question 23 :
The point at which the total utility derived by a consumer is the maximum called ________.

Question 24 :
Which of the following are true or false?<br/>a) Extension or Contraction of demand results in the movement along side the demand curve&#160;<br/>b) Negative slope of demand curve and downward bend of demand curve are the same thing<br/>

Question 25 :
At lower prices more of the commodity will be purchased because of which of the following reasons?

Question 28 :
Demand of a commodity mainly depends upon which of the following?

Question 29 :
In indifference curve analysis, the fundamental condition of equilibrium is ___________.

Question 30 :
In most cases of demand, with a fall in prices of a commodity _____________________.

Question 31 :
If A and B factors are perfect substitutes, then elasticity of substitution is ________.

Question 32 :
The consumer is in equilibrium and is consuming commodity$-X$ only. The marginal utility from last unit consumed of commodity$-X = 50$ utils and $MU_M = 10$. Find the price of the commodity$-X$.

Question 33 :
The demand schedule shows the relationship between the quantity demanded of a commodity and ____________.<br/>

Question 34 :
a) The indifference curve can be used to indicate the supply of labour available at different .wage rates<br>b) The indifference curve technique can be used to analyse some taxation problems<br>

Question 36 :
The maximum price the consumer is willing to pay for a commodity to maximise satisfaction is equal to __________.

Question 37 :
<br/>A situation when $\displaystyle \frac{P_X}{P_Y} &gt; \frac{MU_X}{MU_Y}$ is better than when $\displaystyle \frac{P_X}{P_Y} = \frac{MU_X}{MU_Y}$.

Question 39 :
Which of the following would be correct of the demand for a commodity is elastic?<br/>

Question 40 :
A consumer strikes his equilibrium when: $\dfrac{MU_X}{P_X} = MU_M$ in case of two commodities.

Question 41 :
When zero units have been consumed, what value TU and MU takes?

Question 42 :
In the case of inferior goods, the law of demand fails.<br/>

Question 43 :
a) The price consumption curve is a useful tool of indifference curve analysis<br>b) If the slope of price consumption curve is negative, the elasticity of demand for the commodity is greater than unity<br>

Question 44 :
Whichof the following assumption is applicable under the Marshallian approach ofconsumer behaviour?

Question 47 :
In real life, the elasticity of substitution between factors of production is _________.<br/>

Question 48 :
The economist who uses indifference curve analysis for the measurement of consumers surplus is _______.<br/>

Question 49 :
<br/>A consumer will buy more of a commodity even when MU of every successive unit tends to decrease.<br/>