List of top Economics Questions on Consumer theory

An individual's utility function for two goods - milk (M) and butter (B) is given as \( U(M,B) = 5M - 10B \), and the cost of each unit of the two goods is Rs 1, with a weekly budget of Rs 5. Find the individual's utility maximizing choice.

Which of the following are applicable to the individual's expenditure function? 

(A) It is homogeneous of degree zero in all prices. 
(B) It represents the maximum expenditure to achieve a given level of utility. 
(C) It is non-decreasing in prices. 
(D) It is concave in prices. 
Choose the correct answer from the options given below:
 

Match List-I with List-II:

List-I(Works)

List-II(Authors)

ATheory of Moral SentimentsIJ.M. Keynes
BTheories of Surplus ValueIIJ.S. Mill
CGeneral TheoryIIIAdam Smith
DOn LibertyIVKarl Marx

Choose the correct answer from the options given below
Which of the following statements are true in case of public goods?
(a) Public goods are non divisible.
(b) Public goods are non excludable.
(c) Whatever government purchases is called Public good.
(d) Whatever the public consumes is called public good.
Assuming \( x \) is a whole number greater than or equal to 2, arrange the above four in decreasing order, with the largest first and smallest last:
(a) \(\frac{1}{x}\)
(b) \(\frac{1}{x^2}\)
©  \(\frac{1}{1+x}\)
(d)  \(\frac{1}{(1+x)^2}\)
Suppose X takes the values -10 and 20 with probability 1/4 and 3/4 respectively, calculate E[X²].
If \(Y=20+10X\), then \(Var[Y]\) is
Let \(Y=exp(a+bX)\), where a and b are constants. Calculate \(\frac{dX}{dY}\)​.
The relationship between a country's per capita income and its inequality of income distribution is known as
Calculate the weighted arithmetic mean of 10, 20, and 30, when the given weights are:
(A) 1, 2 and 1 respectively
(B) 1, 1 and 3 respectively
(C) 1, 2 and 3 respectively
(D) 2, 1 and 2 respectively
Choose the correct answer from the options given below:
Satish is very conscious of the food he eats. He eats only rotis and dal. A cup of dal costs Rs 2 while a roti costs one rupee and Satish decides to spend only Rs 13 per day on food. Also he decides to consume only 5500 calories a day. He has been told that each day