Total utility of a commodity is measured by which price of that commodity?
A). Value in use
B). Value in exchange
C). Both of above
D). None of above
At the point of satiety, marginal utility is
A). Zero
B). Positive
C). Maximum
D). Negative
Which one of the following is the task of the Planning Commission?
A). Preparation of the plan
B). Implementation of the plan
C). Financing of the plan
D). None of the above
Marginal utility is equal to average utility at that time when average utility is
A). Increasing
B). Maximum
C). Falling
D). Minimum
Utility means
A). Power to satisfy a want
B). Usefulness
C). Willingness of a person
D). Harmfulness