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Complete the following statement by choosing the correct alternatives: In the law of diminishing marginal utility, Alfred Marshall assumes that the marginal utility of money ________. - Economics

MCQ

Complete the following statement by choosing the correct alternatives:

In the law of diminishing marginal utility, Alfred Marshall assumes that the marginal utility of money ________.

Options

  • increases

  • remains constant

  • decreases

  • rises and then falls

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Solution

In the law of diminishing marginal utility, Alfred Marshall assumes that the marginal utility of money remains constant.

Concept: Law of Diminishing Marginal Utility
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APPEARS IN

Balbharati Economics 12th Standard HSC Maharashtra State Board
Chapter 2 Utility Analysis
Exercise | Q 1. (1) | Page 16
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