Basic Concepts of Theory of Consumer Behaviour - Jamb Economics Past Questions and Answers

Question 31:

• JAMB 2001

The diagram shows the total utility curve. At the point M, marginal utility

A. Increases
B. Is unity
C. Diminishes
D. Is zero

Question 32:

• JAMB 2003

Utility is the satisfaction derived from?

A. Demand
B. Production
C. Distribution
D. Consumption

Question 33:

• JAMB 2003

In the table above, the price of commodity y is N2 and that of x is N1 while the individual has an income of N12. Determine the combination of the two commodities the individual should consume to maximize his utility

A. 3y and 3x
B. 6y and 4x
C. 3y and 6x
D. 5y and 5x

Question 34:

• JAMB 2004

One of the assumptions of ordinal utility in consumer behaviour is that

A. Consumers are irrational
B. Marginal utility rises continuously
C. Utility is measurable
D. Utility can only be ranked

Question 35:

• JAMB 2004

In the diagram above, ST is the budget line while l,ll and lll represent indifference curves. A rational consumer will choose to consume at point

A. M
B. J
C. K
D. L