2 D 13852
6. The locus of various cost minimizing points of a firm is :
(a) Expansion path. (b) Production function.
(c) MRTS. ` ५). MRS.
7. The price elasticity calculated over a range of prices :
(a) Point elasticity. (b) Cross elasticity.
(c) Arcelasticity. (d) Income elasticity.
8. Expenditurethat is made and cannot be recovered :
(a) Fixed cost. (b) Variable cost.
(c) Sunk cost. (d) Accounting cost.
9. At the optimal consumption bundle :
(a) The marginal utility of all goods consumed is equal.
(b) The marginal utility per rupee spent is equal for all goods consumed. * ۰
(०) The price of all goods consumed is equal.
(d) None of the above. 2
10. Marginal product refers to :
(a) The additional product produced as the firm adds one additional unit of an input.

(b) The additional utility that a consumer derives from consuming one additional unit of a
good.

(c) The total utility derived by consuming the good.
(d) All of the above.
11. If goods x and Y are substitutes, with a decrease in the price of Y, the demand for X will :
(a) An increase. (b) Adecrease.
(c) No change. (d) First increase and then decrease.
12. When total utility is maximum :
(a) Marginal utility is zero.
(b) An additional unit of consumption will decrease total utility.
(c) An additional unit of consumption will increase marginal utility.
(d) Total utility is constant.
(12 ೬ 3% ಎ 6 marks)