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Question Practice

A consumer's optimal choice is found at what point?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Economics
Introductory Microeconomics
Theory Of Consumer Behaviour
Question Bank

A consumer's optimal choice is...

Single Answer MCQ
Q-00089315

A consumer's optimal choice is found at what point?

1

Where indifference curves intersect.

2

Where the marginal utility equals the price.

3

At any point on the budget line.

4

At the highest indifference curve level.

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Q1.

What does the law of diminishing marginal utility state?

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Q2.

If a consumer prefers more of a good as long as its marginal utility is positive, what will they do?

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Q3.

Which of the following best describes an indifference curve?

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Q4.

What shapes the typically convex shape of an indifference curve?

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