Business Studies, asked by geegirlgold, 10 months ago

1. State the action of the consumer in each of these cases.
(a). If the marginal utility is lower than the price.
(b). As price of the commodity falls.
2. Explain the law of diminishing marginal utility and state any two conditions under which a consumer is assumed to have maximized his utility.

Answers

Answered by modanwalanand764
0

Answer:

1) supply decrease

2) supply increase

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