Marginal/Cardinal Utility MCQ Quiz

  • AP Econ
  • IB Econ
Reviewed by Editorial Team
The ProProfs editorial team is comprised of experienced subject matter experts. They've collectively created over 10,000 quizzes and lessons, serving over 100 million users. Our team includes in-house content moderators and subject matter experts, as well as a global network of rigorously trained contributors. All adhere to our comprehensive editorial guidelines, ensuring the delivery of high-quality content.
Learn about Our Editorial Process
| By Jehangir
J
Jehangir
Community Contributor
Quizzes Created: 1 | Total Attempts: 326
| Attempts: 326 | Questions: 5
Quiz Flashcard
Please wait...
Question 1 / 5
0 %
0/100
Score 0/100
1. Which one do you like?

Explanation

Option D is the Equimarginal Principle just written differently.

Submit
Please wait...
About This Quiz
Marginal/Cardinal Utility MCQ Quiz - Quiz

Engage with foundational economics concepts through this Marginal\/Cardinal Utility MCQ Quiz, designed to test and enhance your understanding of utility in economic theory.

Tell us your name to personalize your report, certificate & get on the leaderboard!
2. Which one do you like?

Explanation

Individual gets 2 utils from each dollar spent. If price is 2 that means he derives 4 utils from buying good X. Hence, consumer needs to consume till the point where MUx is equal to 4 which happens at 4 units of consumption.

Submit
3. Which one do you like?

Explanation

MUx

Submit
4. Which one do you like?

Explanation

We did this in class already - you're welcome.

Submit
5. Which one do you like?

Explanation

To maximize utility, consumer needs to adjust consumption of both the goods until the marginal utility per dollar from each good is the same (equimarginal principle).

Submit
View My Results

Quiz Review Timeline (Updated): Mar 21, 2023 +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Mar 21, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Jul 23, 2020
    Quiz Created by
    Jehangir
Cancel
  • All
    All (5)
  • Unanswered
    Unanswered ()
  • Answered
    Answered ()
Which one do you like?
Which one do you like?
Which one do you like?
Which one do you like?
Which one do you like?
Alert!

Advertisement