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![Balbharati solutions for Economics [English] 12 Standard HSC chapter 2 - Utility Analysis - Shaalaa.com](/images/economics-english-12-standard-hsc_6:241bfd6f9011433b9b44c9de23ef18a7.JPG "Balbharati solutions for Economics [English] 12 Standard HSC chapter 2 - Utility Analysis")
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Solutions for Chapter 2: Utility Analysis
Below listed, you can find solutions for Chapter 2 of Maharashtra State Board Balbharati for Economics [English] 12 Standard HSC.
Balbharati solutions for Economics [English] 12 Standard HSC 2 Utility Analysis Exercise [Page 16]
Complete the following statements by choosing the correct alternatives.
In the law of diminishing marginal utility, Alfred Marshall assumes that the marginal utility of money ______.
increases
remains constant
decreases
rises and then falls
As per the law of diminishing marginal utility, the measurement of utility is assumed to be _____.
ordinal
cardinal
both ordinal and cardinal
none of the above
MU of the commodity becomes negative when TU of a commodity is ______.
rising
constant
falling
zero
Complete the following statement by choosing the correct alternatives:
Point of Satiety means _______
TU is rising and MU is falling.
TU is falling and MU is negative.
TU is maximum and MU is zero.
MU is falling and TU is rising.
When MU is falling, TU is _______.
rising
falling
not changing
maximum
Choose the correct option:
| Column A | Column B |
| 1) Time utility | a) Transport |
| 2) Place utility | b) Blood bank |
| 3) Service utility | c) Mobile phone |
| 4) Knowledge utility | d) Doctor |
1 - d, 2 - b, 3 - a, 4 - c
1 - b, 2 - a, 3 - d, 4 - c
1 - a, 2 - b, 3 - c, 4 - d
1 - b, 2 - c, 3 - d, 4 - a
Choose the correct option:
Statement indicating consumer equilibrium:
a) MU is greater than price
b) MU is equal to price
c) MU is less than price
d) Price is less than one
a and b
a, b, c and d
a, b and c
only b
Identify and explain the concept from the given illustration:
Salma purchased a sweater for her father in the winter season.
Identify and explain the concept from the given illustration:
Nilesh purchased ornaments for his sister.
Identify and explain the concept from the given illustration:
Kavita consumed five units of oranges one after the other.
Identify and explain the concept from the given illustration:
Bhushan refused to eat fifth chapati after eating four chapatis.
Identify and explain the concept from the given illustration:
Lalita satisfied her want of writing an essay by using pen and notebook.
Observe the given table and answer the questions given below:
| Units of a commodity | TU units | MU units |
| 1 | 6 | 6 |
| 2 | 11 | 5 |
| 3 | 15 | 4 |
| 4 | 15 | 0 |
| 5 | 14 | -1 |
- Draw the total utility curve and marginal utility curve.
- (i) When the total utility is maximum, marginal utility is ______.
(ii) When total utility falls, marginal utility becomes ______.
Explain any four exceptions of the law of Diminishing marginal utility.
Solutions for 2: Utility Analysis
Balbharati solutions for Economics [English] 12 Standard HSC chapter 2 - Utility Analysis
Shaalaa.com has the Maharashtra State Board Mathematics Economics [English] 12 Standard HSC Maharashtra State Board solutions in a manner that help students grasp basic concepts better and faster. The detailed, step-by-step solutions will help you understand the concepts better and clarify any confusion. Balbharati solutions for Mathematics Economics [English] 12 Standard HSC Maharashtra State Board 2 (Utility Analysis) include all questions with answers and detailed explanations. This will clear students' doubts about questions and improve their application skills while preparing for board exams.
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Concepts covered in Economics [English] 12 Standard HSC chapter 2 Utility Analysis are Utility, Concepts of Utility, Diminishing Marginal Utility, Types of Utility, Relationship Between Total Utility and Marginal Utility, Law of Diminishing Marginal Utility, Assumptions of Diminishing Marginal Utility, Exceptions to the Law of Diminishing Marginal Utility, Criticisms of the Diminishing Marginal Utility, Significance of the Diminishing Marginal Utility, Relationship Between Marginal Utility and Price.
Using Balbharati Economics [English] 12 Standard HSC solutions Utility Analysis exercise by students is an easy way to prepare for the exams, as they involve solutions arranged chapter-wise and also page-wise. The questions involved in Balbharati Solutions are essential questions that can be asked in the final exam. Maximum Maharashtra State Board Economics [English] 12 Standard HSC students prefer Balbharati Textbook Solutions to score more in exams.
Get the free view of Chapter 2, Utility Analysis Economics [English] 12 Standard HSC additional questions for Mathematics Economics [English] 12 Standard HSC Maharashtra State Board, and you can use Shaalaa.com to keep it handy for your exam preparation.
