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Match List-I with List-II
Choose the correct answer from the options given below: |
(A)-(I), (B)-(II), (C)-(III), (D)-(IV) (A)-(I), (B)-(III), (C)-(IV), (D)-(II) (A)-(I), (B)-(II), (C)-(IV), (D)-(III) (A)-(IV), (B)-(III), (C)-(I), (D)-(II) |
(A)-(IV), (B)-(III), (C)-(I), (D)-(II) |
The correct answer is Option (4) → (A)-(IV), (B)-(III), (C)-(I), (D)-(II)
(A) Marginal Rate of Substitution → (IV) Slope of Indifference Curve. The MRS represents the rate at which a consumer is willing to substitute one good for another while keeping satisfaction constant — it is the slope of the indifference curve. (B) MUx/MUy = Px/Py → (III) Law of Equi-Marginal Utility. This is the consumer equilibrium condition, derived from the Law of Equi-Marginal Utility, which states that utility is maximized when the ratio of marginal utilities equals the ratio of prices. (C) −(Px/Py) → (I) Slope of Budget Line. The negative price ratio (−Px/Py) gives the slope of the budget line, showing the rate at which the consumer can trade one good for another in the market. (D) Monotonic Preferences → (II) More of at least one good and no less of the other good. Monotonic preferences mean a consumer always prefers more of at least one good and no less of the other, indicating non-satiation. |
