Question

State the importance of the law of Equi-marginal utility.

Answer 1

Following are the importance of the law of Equi-marginal utility.

1. It is useful for consumption.
2. The law is useful for public finance.
3. The law is useful for exchange.
4. The law explains the distribution of national income.
5. This law is useful for production.
6. This law is the guide to the individual.