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Question
Match the following:
| Group ‘A’ | Group ‘B’ | ||
| a) | Marginal utility | 1) | Price Discrimination |
| b) | Medicines | 2) | Legal tender money |
| c) | Monopoly | 3) | Government bank |
| d) | Currency Notes | 4) | Utility from last unit. |
| e) | Central Bank | 5) | Inelastic demand |
| 6) | Commercial bank | ||
| 7) | Utility of all units | ||
| 8) | Elastic demand |
Solution
| Group ‘A’ | Group ‘B’ | ||
| a) | Marginal utility | 4. | Utility from last unit. |
| b) | Medicines | 5. | Inelastic demand |
| c) | Monopoly | 1. | Price Discrimination |
| d) | Currency Notes | 2 | Legal tender money |
| e) | Central Bank | 3. | Government bank |
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Use of Marginalism Principle in Micro Economics
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