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Marshallian theory of consumer behaviour is based on?

Answer»

Besides, the Marshallian concept ofconsumer's surplus is based on the principle of diminishing MARGINAL utility. Consumer's EQUILIBRIUM: Principle of Equi-Marginal Utility: ... Theconsumer's behaviour will be governed by two FACTORS FIRST, the marginal utilities of the GOODS and secondly, the prices of two goods.



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