Which of the following is Gossen's first law:
A) Law of Diminishing Marginal Utility
B) Law of Equi Marginal Utility
C) Law of substitution
D) Law of Diminishing Returns
Correct Answer:
Verified
Q2: Marginal costs and average variable costs are
Q3: Theory of demand examines the behaviour of
Q4: Change in utility resulting from one unit
Q5: Saturation point is the point where:
A)TU =
Q6: Measurable utility is the postulate of:
A)Neo-Classical school
B)Ordinalist
Q8: In the case of a free good,
Q9: Change in demand due to a change
Q10: The Price and quantity relationship for an
Q11: In the case of normal goods, the
Q12: Which of the following is a cardinalist
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