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Correction✅✅ 9.A&C mels nachew

1gnaw A yemilew UNTIL new. Spell error 8gnaw mels altesetem gin melsu D nw 9gnaw C mehonm yichlal mirchaw 2 mels new yalew

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Answers 1.A take a correction The satisfaction which a consumer gets by having or consuming goods or services is called utility. 2.C -An isoquant is downward -sloping to the right -no two isoquants intersect each other. -isoquants are convex to the origin 3.D 4.D 5.A So a rough numerical measure of consumer satisfaction is derived with total and marginal utilities what microeconomics calls cardinal utility, which refers to the cardinal numbers, starting with 1, 2, 3 and so on. 6.B 7.C In economics, an indifference curve connects points on a graph representing different quantities of two goods, points between which a consumer is indifferent. That is, any combinations of two products indicated by the curve will provide the consumer with equal levels of utility, and the consumer has no preference for one combination or bundle of goods over a different combination on the same curve. One can also refer to each point on the indifference curve as rendering the same level of utility (satisfaction) for the consumer. In other words, an indifference curve is the locus of various points showing different combinations of two goods providing equal utility to the consumer. Utility is then a device to represent preferences rather than something from which preferences come. The main use of indifference curves is in the representation of potentially observable demand patterns for individual consumers over commodity bundles.There are infinitely many indifference curves: one passes through each combination. A collection of (selected) indifference curves, illustrated graphically, is referred to as an indifference map. 8.D 9.A 📉TU👆as long as MU👇 TU is maximum when MU is zero 📈TU is start declining when MU becomes negative 10.B(the same with question number 9) 10.A When indifference curve farther from the origin the level of satisfaction is the highest But if it's near from the origin the livel of satisfaction is the Lowest. 11.C MU=∆TU/∆units of commodity 3rd=21-18/3-2....... 3 12.A 13.D 14.C 15.A convexity of indifference curve implies that the two goods can substitute for one another but not perfectly as the consumer gets additional units of good X at the cost of good Y this gives rise to diminishing marginal rate of substitution. 16. As the factor input are changed its out puts are vary. 17.convexity of an isoquant is the result of the principle of diminishing marginal rate of technical substitution. 18.C If their is parallel grow in price of two goods the budget line remain unchanged 19.B The % decrease in quantity demand is more than the % increase in price this lead to a decrease in total revenue. 20.take a correction all of them are true except "A" 21.More than unit elastic demand (|ep|>1):When percentage change in demand of a commodity is more than the percentage change in its price,itis called more than unit elastic demand 22.D 23.B 24.D 25.C

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17.As one of its main property, isoquant is convex to the origin. This is due to the principle of: A. diminishing marginal rate of technical substitution. B. diminishing marginal rate of utility. C. diminishing return to scale. D. diminishing marginal rate substitution. 18. Suppose that a consumer’s income (I) is double and that prices (good X and Price good Y) of both goods in basket also are doubled with the same proportion. What is the effect of these changes on budget line of the consumer? A. The budget line moves inwards B. The budget line moves outwards C. The budget line remains unchanged. D. Both the income and price consumption curves extend 19. If price increase when demand is elastic then:- A. Supply increase B. Total revenue decrease C. Total revenue increase D. Total revenue stays constant 20. Reason for differences in price elasticity of demand is A. Time adjustment B. Availability of subs tithes C. The natural of the good D. Number of alternative uses 21. When the absolute value of the percentage change in quantity demanded is greater than the absolute value of the percentage change in price, demand is A. Unitary B. Elastic C. Inelastic D. None 22. A firms ability to produce output depends on:- A. Its location B. Its stock price C. Its profitability D. The level of inputs it uses 23.as the consumer has more and more of good x,she/he is prepared to forgot less and less of good y: this statement is A. Law of equi- marginal utility. B. Diminishing marginal rate of substitution C. Law of diminishing marginal utility D. Law of consumers equilibrium 24. The law of diminishing marginal utility is associated to one of the flowing. A.Horizontal supply curve. B.Upward sloping supply cure. C.Horizontal demand curve. D.Downward sloping demand curve 25.Which of the following relates marginal utility with total utility? A.Marginal utility is the change in total utility per unit time. B.Total utility is the multiple of marginal utility and the number of consumers. C. Marginal utility is the change in total utility per unit change in quantity consumed. D. Total utility is the difference between the maximum and the minimum utility

RIGHT WAY ACADEMY ECONOMICS TEST FROM GRADE 11 UNIT 3 OUT OF 25% 1. The satisfaction which a consumer gets by having or consuming goods or services is called? A. until B. utils C. total utility D. Marginal utility 2.One of the following is not properties of isoquants A. Isoquants are convex to the organ B. down wards sloping to the right C.isoquant intersect or touch each other D. diminish from left to right 3.When whole array of isoquant is represented on a graph is said to be A. labor B.an isoquant map C. equal product map D. B and C 4.When MP < AP, AP is A. declining B. falling C. rising D. A and B 5.Which of the following theory explains the consumer behavior based on the concepts of total utility and marginal utility? A. cardinal utility B. Marginal utility C. Total utility D. Rationality 6. The change in total utility resulting from one unit change in the consumption of the good is A. TU B. MU C. utils D. None 7.which one of the folowing represents equal level of satisfaction. A. Budget line B. Iso-quant curve C. Indifference curve D. Iso-cost curve 8.Which one of the following is true about the relationship between Marginal Product (MP) and Average Product (AP)? A. When MP is less than AP, this means that AP is rising. B. When MP is equals to AP, this means that AP is falling. C. When MP is greater than AP, this means that AP reaches maximum. D. When MP is equals to AP, this means that AP reaches maximum. 9. Which one of the following is true about the relationship between Total Product (TP) and Marginal Product (MP)? A. When TP begins to decline, MP becomes negative. B. While TP increases at a diminishing rat, MP increases. C. When TP increases at an increasing rate, MP increases. D. When TP reaches its maximum, MP increases. 10. Indifference map refers to:- A. Various combinations of two goods which give equal satisfaction to the consumer. B. A group or set of indifference curves, each one of which represents a given level of satisfaction. C. A table that shows various combinations of goods which give equal level of satisfaction (utility) to the consumer. D. All of the above. 10.According to the ordinal utility theory of indifference curve approach A. The farther the indifference curve is from the origin, the higher is the level of satisfaction it represents. B. The nearest the indifference curve is to the origin, the higher is the level of satisfaction it represents. C. The farther the indifference curve is from the origin, the smallest is the level of satisfaction it represents. D. Both the nearest and farther the indifference curves from the origin have the same level of satisfaction 11 At 2 units of oranges consumed total utility is 18 and that of 3 units of oranges consumed is 21 The marginal utility of the 3rd units of oranges consumed is: A. 7 B. 9 C. 3 D. 5 12.When total utility begins to decline, Marginal utility becomes: A. Negative B. Positive C. Declining D. Zero 13. Utility is best described as A. Combination of pain and pleasure B. The difference between marginal benefit and marginal cost C. The difference between demand and supply D. The enjoyment consumers derive from the choices they make 14. When the average product and marginal product curve intersects each other A. Marginal product begins to decline B. Total product reaches its maximum C. Average product reaches its maximum D. Marginal cost reaches its minimum 15. Convexity of indifference curve exhibits A. The law of diminishing marginal rate of substitution B. The law of diminishing marginal rate of technical substitution C. Downward sloping D. Upward sloping 16.Of listed options, one is inconsistent with the properties of isoquant. Which one? A. Isoquants never touch or intersect each other B. Isoquant has negative slope C. Isoquant is convex to the origin D. Two isoquants represent the same level of output

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ሰኞ economics grade 11 unit 3 10:00 ሰአት ያስማማናል ?

Eshi 11 D new typing eror silenber new sile seatu demo enastekaklalen kedmom hone zegyto mimels ekul new gin keftegna bemelese ena kedmo belake new