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Question
What is scale of preference?
Short Answer
Solution
A scale of preference of a consumer as between different combinations of two goods implies that as between these combinations he can definitely say which combinations he prefers to others as they give him more satisfaction and among which combinations he is indifferent (in the sense that these combinations give him same satisfaction).
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Chapter 3: Theory of Consumer Behaviour: Marginal Utility and Indifference Curve Analysis - TEST YOURSELF QUESTIONS [Page 49]
