According to marshall, the basis of consumer surplus

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1. According to Marshall, the basis of consumer surplus is-

(A) Law of diminishing marginal utility (B) Law of equi-marginal utility

2. For inferior commodities, income effect is-
(A) Zero (B) Negative
(C) Infinite (D) Positive

3. Which of the following is the second law of Gossen ?
(A) Law of equi-marginal utility (B) Law of equi-product
(C) Theory of indifference curve (D) Law of diminishing marginal utility

Reference no: EM13909335

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