1. the TU from consuming 3 units of a commodity
is 75 utils and the MU of the 4th unit is 10 utils. What is the TU
after consuming 4 units?
2. If the preference of a consumer are
monotonic, then which of the bundles –3 eggs and 5 toasts or 4 eggs and 5
toasts will the consumer choose?
3. Defend or refute the following statements:
Write ‘yes’ or ‘no’ with reason:
a) MU of each unit of a commodity adds to total
utility.
b) Total utility will increase even when
marginal utility decreases.
c) Total utility is maximum when marginal
utility starts declining.
d) All attainable combinations of good X and
good Y are below the budget line of a consumer.
e) A situation when MRS > MRE is better than
when MRS= MRE.
4. How do prices of commodities affect the
consumer’s indifference curve?
5. The marginal utility schedule of commodity X
and commodity Y for a consumer is as follows:
Unit
of X
|
MU
of X
|
Unit
of Y
|
MU
of Y
|
1
|
8
|
1
|
14
|
2
|
6
|
2
|
10
|
3
|
4
|
3
|
6
|
4
|
2
|
4
|
4
|
5
|
1
|
5
|
2
|
If the total money spent by the consumer is Rs.
16 and Price of X is Rs. 2 and Price of Y is Rs. 5, determine consumer’s
equilibrium if the marginal utility of money is Rs. 2.
6. If MRS is 3, is the consumer in equilibrium?
Justify.
7. Why is the point of tangency between budget
line and the indifference curve the point of consumer’s equilibrium?
Collection of Data
1. Census
of Data is the main source of secondary data. Explain.
2. Discuss various sampling errors in data
collection. Out of Sampling and Non- Sampling error which one is more serious and Why?
3. Discuss the term ‘ universe’ and ‘ sample’
with example.
4. Do samples provide better results than
surveys? Give reasons.
5. Give five examples for the following methods
of primary data collection:
a) Direct oral investigation
b) Indirect oral investigation
c) Telephonic interview.
d)
Mailed Questionnaire method.