When total utility becomes maximum, marginal utility becomes ________.
Zero
Marginal utility (MU) is the change in total utility (TU) from consuming one more unit: $MU = \Delta TU / \Delta Q$.
While MU is positive, TU keeps rising; when MU falls to zero, TU stops rising and reaches its maximum (point of satiety).
Beyond this point MU becomes negative and TU starts falling.
Hence, Zero.
Which of the following is an example of structural unemployment?
Which of the following statement is correct?
I. Indifference curves are sloping from left to right.
II. Higher indifference curve gives a higher level of utility.
Match List I with List II:
List- I Shape of revenue curve of the firm | List – II Market structure | ||
A. | Kinked revenue-curve | (I) | Monopolistic competition |
B. | Infinitely elastic straight line curve | (II) | Perfect competition |
C. | Relatively less elastic curve | (III) | Oligopoly |
D. | Relatively high elastic curve | (IV) | Monopoly. |
Marginal revenue of a firm is constant throughout under _________.
The cost curve which is a rectangular hyperbola is:
Rare of inflation is equal to:
[A = Price Index]