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प्रश्न
The law of equi-marginal utility is based on the law of _________.
विकल्प
(a) demand
(b) diminishing marginal utility
(c) supply
(d) consumption
उत्तर
The law of equi-marginal is based on the law of diminishing marginal utility.
Explanation:
The law of equi-marginal utility is an extension of the law of diminishing marginal utility, It explains how equilibrium is achieved when a consumer spends his income on number of goods to derive maximum satisfaction.
APPEARS IN
संबंधित प्रश्न
The law of equi-marginal utility is based on certain assumptions.
Explain with reason whether you 'agree' or 'disagree' with the following statement:
Law of diminishing marginal utility depends upon various assumptions.
Write short note on :
Giffen's paradox.
State and explain in detail the Law of Diminishing Marginal Utility ?
Write explanatory note.
Government expenditure.
