What Is Economic Or Marshallian Model?

1.	What Is Economic Or Marshallian Model?
Answer» This theory was first advanced by the economists. They gave formal explanation of buyer behaviour. According to this theory the consumers are assumed to be RATIONAL and CONSCIOUS about economic calculations. They follow the law of marginal UTILITY. An INDIVIDUAL buyer seeks to spend his money on such goods which GIVE maximum satisfaction (utility) according to his interests and at relative cost. This theory was first advanced by the economists. They gave formal explanation of buyer behaviour. According to this theory the consumers are assumed to be rational and conscious about economic calculations. They follow the law of marginal utility. An individual buyer seeks to spend his money on such goods which give maximum satisfaction (utility) according to his interests and at relative cost.

Answer»

This theory was first advanced by the economists. They gave formal explanation of buyer behaviour. According to this theory the consumers are assumed to be RATIONAL and CONSCIOUS about economic calculations. They follow the law of marginal UTILITY. An INDIVIDUAL buyer seeks to spend his money on such goods which GIVE maximum satisfaction (utility) according to his interests and at relative cost.

This theory was first advanced by the economists. They gave formal explanation of buyer behaviour. According to this theory the consumers are assumed to be rational and conscious about economic calculations. They follow the law of marginal utility. An individual buyer seeks to spend his money on such goods which give maximum satisfaction (utility) according to his interests and at relative cost.

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