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Question
Which is the First Law of Gossen?
Options
Law of Equi-marginal Utility
Law of Diminishing Marginal Utility
Law of Supply
Law of Demand
MCQ
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Solution
Law of Diminishing Marginal Utility
Explanation:
Gossen’s First Law is the Law of Diminishing Marginal Utility. The Law of Equi-marginal Utility is also known as Gossen’s Second Law.
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