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Question
Match the statements given under A with the correct options given under B.
| (A) | (B) |
|---|---|
| (i) Law of diminishing marginal utility | a. Slope of indifference curve |
| (ii) MU | b. Fundamental Psychological Law |
| (iii) Marginal Rate of Substitution | c. Point of satiety |
| (iv) Indifference Map | d. `(ΔTU)/(ΔQ)` |
| (v) Zero Marginal Utility | e. Family of indifference curves |
Match the Columns
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Solution
| (A) | (B) |
|---|---|
| (i) Law of diminishing marginal utility | b. Fundamental Psychological Law |
| (ii) MU | d. `(ΔTU)/(ΔQ)` |
| (iii) Marginal Rate of Substitution | a. Slope of indifference curve |
| (iv) Indifference Map | e. Family of indifference curves |
| (v) Zero Marginal Utility | c. Point of satiety |
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