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DMU Core Quiz

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DMU Core Quiz

Froggy Jumps

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Core DMU concepts

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India

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DMU Core Quiz
 

Froggy Jumps

DMU Core QuizOnline version

Core DMU concepts

by Fauquiyah Shaikh
1

A thirsty person drinking a glass of water experiences utility as the cause of consumption, while the end result is called ________.

2

Transporting wooden logs from a forest to a furniture factory primarily creates which type of utility?

3

Storing blood in a blood bank during normal periods to use during emergencies is an example of ________.

4

What is the mathematical formula used to find the Marginal Utility (MU) of the "nth" unit?

5

At the point of satiety, what are the positions of Total Utility (TU) and Marginal Utility (MU)?

6

Consumption beyond the point of satiety transforms satisfaction into dissatisfaction, causing the MU curve to become ________.

7

The Law of Diminishing Marginal Utility assumes that all units of the commodity consumed are completely identical in size, shape, and color. This is the assumption of ________.

8

Why are hobbies, misers, and addictions considered apparent exceptions rather than real exceptions to the Law of DMU?

9

Critics argue that the Law of DMU is unrealistic because utility is a psychological concept and cannot be measured numerically. Which assumption does this criticize?

10

Why does water cost so little while diamonds cost so much (Paradox of Values)?

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