| List - I (Concepts) | List - II (Definitions) |
|---|---|
| A. Marginal Utility | I. The total satisfaction derived from consuming all units of a good |
| B. Law of Diminishing Returns | II. The change in total utility resulting from the consumption of one more unit of a good |
| C. Total Cost | III. The decline in output when additional units of a variable factor are employed |
| D. Marginal Cost | IV. The change in total cost resulting from the production of one more unit |
1
(A) - (I), (B) - (IV), (C) - (III), (D) - (II)
2
(A) - (IV), (B) - (II), (C) - (III), (D) - (I)
3
(A) - (II), (B) - (IV), (C) - (III), (D) - (I)
4
(A) - (II), (B) - (III), (C) - (I), (D) - (IV)