Question
When marginal utility is zero, total utility is.
  1. Zero.
  2. Minimum.
  3. Maximum.
  4. Negative.

Answer

  1. Maximum.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Similar questions

All of the following items are determinants of demand except:
  1. Tastes and preferences.
  2. Quantity supplied.
  3. Income.
  4. Price of related goods.
Diminishing returns occur:
  1. When units of a variable input are added to a fixed input and total product falls.
  2. When units of a variable input are added to a fixed input and marginal product falls.
  3. When the size of the plant is increased in the long run.
  4. When the quantity of the fixed input is increased and returns to the variable input falls.
Monopoly means:
  1. Single firm.
  2. No close substitutes.
  3. Barriers to entry.
  4. All of the above.
Central problem of an economy can be:
  1. What goods to produce and how much to produce
  2. How to produce
  3. For whom to produce
  4. All of the above
AR is also known as:
  1. Price.
  2. Income.
  3. Revenue.
  4. None of these.
When there is fall in the price of complementary good and rise in the price of substitute good, it shows:
  1. Increase in demand.
  2. Expansion in demand.
  3. Decrease in demand.
  4. Contraction in demand.
Which of the following is not the function of the central bank?
  1. Banking facilities to government.
  2. Banking facilities to public.
  3. Lendings to government.
  4. Lendings to commercial bank.
When Average Cost curve is rising, then Marginal Cost _____________.
  1. Must be decreasing.
  2. Must be constant.
  3. Must be rising.
  4. Any of these.
Demand curve is perfectly elastic under:
  1. Perfect competition.
  2. Monopoly.
  3. Monopolistic competition.
  4. All of the above.
Which of the following is a Macroeconomic study?
  1. Government budget and economy.
  2. Price determination of a commodity.
  3. Producer's equilibrium.
  4. Consumer's equilibrium.