Multiple Choice
According to Marshall, The law of diminishing marginal utility
A) applies on money in the manner in which it applies on commodity
B) do not applies on money except bank money
C) does not applies on bank money but applies on cash
D) applies on all commodities except money
Correct Answer:
Verified
Correct Answer:
Verified
Q14: Ordinal utility analysis is otherwise known as<br>A)gossens
Q15: An indifference curve represent<br>A)four commodities<br>B)less than two
Q16: Engel curve for giffen good is<br>A)positively sloped<br>B)negatively
Q17: Which method is used by Hicks to
Q18: When individuals income falls (everything remain the
Q19: Hicks Allen indifference theory is based on<br>A)weak
Q21: 'Higher the indifference curve higher will be
Q22: Marshalian cardinal utility analysis assumes<br>A)marginal utility of
Q23: Income consumption curve of an inferior commodity
Q24: When price of a product falls, more