Question : Marshall established the law of Equimarginal Utility:
Option 1: Related to money
Option 2: Related to goods
Option 3: Both of the above
Option 4: All of the above
Answer (1)
24th Jan, 2024
Correct Answer: Related to goods
Solution :
It is related to goods only.
Alfred Marshall proposes the law of equi-marginal utility.
'If a person has a goods that can be put to several uses, he will distribute it among these uses in such a way that it has the same marginal utility in all,' says Prof. Marshall.
Hence option b is the correct answer.
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