Economics · Consumer Behaviour and Utility Theory
Match List-I with List-II: List-I: (A) Utility can be expressed in numbers (B) Change in total utility due to consumption of one additional unit (C) Marginal utility declines as consumption increases (D) Amount of one good sacrificed to get an additional unit of another good at constant utility List-II: (I) Cardinal Utility (II) Law of Diminishing Marginal Utility (III) Marginal Utility (IV) Marginal Rate of Substitution Choose the correct answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1(A)-(III), (B)-(IV), (C)-(I), (D)-(II)
- 2(A)-(I), (B)-(II), (C)-(IV), (D)-(III)
- 3(A)-(I), (B)-(III), (C)-(II), (D)-(IV)✓
- 4(A)-(I), (B)-(II), (C)-(III), (D)-(IV)
Correct answer
(A)-(I), (B)-(III), (C)-(II), (D)-(IV)
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