List of top Economics Questions on Consumer’s Equilibrium

Match List-I with List-II:

List-I	List-II
(A) Consumer equilibrium	(I) MRS = Ratio of prices
(B) Necessity goods	(II) Unit elastic demand
(C) Total expenditure decreases with increase in price of the good	(III) Inelastic demand
(D) Rectangular hyperbola demand curve	(IV) Elastic demand

Choose the correct answer from the options given below :

Suppose a consumer consumes two goods whose MRS = 3. If the price of one good is Rs 30, what is the price of the other good for the consumer to be in equilibrium?

When total utility remains constant the value of marginal utility is