The Theory of Consumer Behaviour - Jamb Economics Past Questions and Answers

Question 76:

• JAMB 2012

To move from point M to K, the consumer has to increase the

A. Consumption of X and reduce the consumption of Y
B. Expenditure on Y
C. Expenditure on X
D. Consumption of Y and reduce the consumption of X

Question 77:

• JAMB 2013

One of the assumptions of the cardinal approach is

A. Diminishing marginal rate of substitution
B. The consistency and transitivity of choice
C. That total utility depends on the quantity of the commodities consumed
D. Unstable marginal utility of money

Question 78:

• JAMB 2013

Utility is the satisfaction derived from the

A. Distribution of goods and services
B. Use of goods and services
C. Demand of goods and services
D. Production of goods and services

Question 79:

• JAMB 2013

From the indifference curve above, consumer will prefer combination

A. F
B. S
C. M
D. K

Question 80:

• JAMB 2020

The law of diminishing marginal utility indicates that if a consumer increases his consumption of a commodity continously

A. Total utility must fall
B. Marginal utility must fall
C. Marginal utility may rise
D. Marginal utility may fall even though his total utility may be rising