Related InterviewSolutions

• List the importance of Law of Diminishing Marginal Utility.
• How marginal utility and total utility-related?
• Write two characteristics of utility.
• Who says that “the additional benefit which a person derives from a given increase of his stock of a thing diminishes with every increase in the stock that he already has.”
• What marginal is said when the consumption of the last unit gives some satisfaction?
• Marginal Utility may be: (a) Positive (b) Negative (c) Zero (d) All of these