Multiple choice

Match the following

 
List-I
List-Il
1. Revealed Preference hypothesis
(i) A. Bergson
2. Quasi rent
(ii) B.S. Minhas
3. Elasticity of substitution
(iii) A. Marshall
4. Social welfare function
(iv) P.A. Samuelson

  1. 1-(iii), 2-(i), 3-(ii), 4-(iv)

  2. 1-(iv), 2-(iii), 3-(ii), 4-(i)

  3. 1-(iv), 2-(i), 3-(ii), 4-(iii)

  4. 1-(ii), 2-(iii), 3-(iv), 4-(i)
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The correct matching is: Revealed Preference hypothesis - P.A. Samuelson (who developed the theory); Quasi rent - A. Marshall (who introduced the concept); Elasticity of substitution - B.S. Minhas (along with Arrow, Chenery, and Solow in the CES production function); Social welfare function - A. Bergson (who pioneered the concept). This gives the pairing: 1-(iv), 2-(iii), 3-(ii), 4-(i), which is option B.

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