List of top Economics Questions on Consumer theory asked in IIT JAM EN

Suppose utility function of a consumer is \( u(x, y) = xy \), where \( x \) and \( y \) are quantities of the two commodities consumed. If price of \( x \) is Rs.1 and that of \( y \) is Rs.2, and income of the consumer is Rs.100, utility maximizing quantity consumption of \( x \) is ..........

In the case of first-degree price discrimination, which of the following statements is/are CORRECT in the long run?

Which of the following is/are the shock(s) to the IS curve?

You are measuring level of consumption of a good commodity on the X-axis and that of a bad commodity on the Y-axis. The indifference curve is ............

Marginal utility of a good refers to the ............

Consider a consumer with the utility function, \( U(x, y) = y + \sqrt{x} \), where \( x \) and \( y \) are quantities of two commodities consumed.
Which one of the following is TRUE?

The consumer price index (CPI) differs from the GDP deflator since it includes goods and services ............. rather than goods and services ...............