Which of the following is called gossans first law
A) law of substitution
B) law of equi marginal utility
C) law of diminishing marginal utility
D) none of the above
Correct Answer:
Verified
Q2: When individuals income falls (everything remain the
Q3: If negative income effect is greater than
Q4: Which of the following statement is FALSE
Q5: According to Marshall consumer surplus is:
A)total utility
Q6: If both the products X & Y
Q7: Which of the following statement is TRUE
Q8: If negative income effect is less than
Q9: Which of the following statements is true
A)hicksian
Q10: According to Hicks substitution effect is
A)the movement
Q11: Strong ordering means
A)absence of indifference
B)presence of indifference
C)no
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