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Question
Unit at which MU (Marginal Utility) becomes equal with market price is ______.
Options
producers equilibrium
consumers’ equilibrium
partial equilibrium
general equilibrium
MCQ
Fill in the Blanks
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Solution
Unit at which MU (Marginal Utility) becomes equal with market price is consumers’ equilibrium.
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RELATED QUESTIONS
MU of the commodity becomes negative when TU of a commodity is ______.
Choose the correct option:
Statement indicating consumer equilibrium:
a) MU is greater than price
b) MU is equal to price
c) MU is less than price
d) Price is less than one
Study the following table, figure, passage and answer the question given below it.
| Units | MU OF X | MU in terms of money 1 unit = RS.10 | Market price per unit = RS.50 | Comparison between MU and Price |
| 1 | 10 | 100 | 50 | MU > PRICE |
| 2 |
____ |
80 | 50 | MU > PRICE |
| 3 | 7 | _____ | 50 | MU > PRICE |
| 4 | 5 | 50 | 50 | _____ |
| 5 | 3 | 30 | 50 | MU < PRICE |
| 6 | 1 | 10 | 50 | _____ |
- Complete the table (2m)
- Identify any two Intra Marginal Units (1m)
- Identify any two Extra Marginal Units (1m)
Complete the correlation:
Intra marginal unit : MU > Price : : ______ : MU < Price.
