Match List-I with List-II
|
List-I |
List-II |
|
(A) Consumer's income changes, but prices remain unchanged. The equation of the budget line. |
(I) $p_1 x_1 + p_2 x_2 = M'$ |
|
(B) Marginal Rate of Substitution (MRS) |
(II) $p'_1 x_1 + p_2 x_2 = M$ |
|
(C) The price of a commodity changes, but income remains unchanged. The equation of the budget line. |
(ΙΙΙ) ΔΥ / ΔΧ |
|
(D) Total Utility |
(IV) $MU_1+ MU_2+ ... + MU_{n-1} + MU_n$ |
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → (A)-(I), (B)-(III), (C)-(II), (D)-(IV)
|
List-I |
List-II |
|
(A) Consumer's income changes, but prices remain unchanged. The equation of the budget line. |
(I) $p_1 x_1 + p_2 x_2 = M'$ |
|
(B) Marginal Rate of Substitution (MRS) |
(ΙΙΙ) ΔΥ/ΔΧ |
|
(C) The price of a commodity changes, but income remains unchanged. The equation of the budget line. |
(II) $p'_1 x_1 + p_2 x_2 = M$ |
|
(D) Total Utility |
(IV) $MU_1+ MU_2+ ... + MU_{n-1} + MU_n$ |