MCQ
Identify the law in the statement below:
'A consumer with a given income allocates his expenditure among commodities, so that last rupee spent on each brings equal Marginal Utility':
'A consumer with a given income allocates his expenditure among commodities, so that last rupee spent on each brings equal Marginal Utility':
- ALaw of Diminishing Marginal Utility.
- ✓Law of Equi-marginal Utility.
- CLaw of diminishing MRS.
- DNone of the above.