Question

A bill of 1000 retired by bank under a rebate of rs 50. The full amount of bill was credited in cashbook

Answer 1

Explanation:

Suppose your father has just come from work and you offer him a glass of juice.The first glass of iuice will aive him great satisfaction.The satisfaction with the second glass of juice will be relatively lesser With further consumption, a stage will come, when he would not need any more glass of juice, ie.when the marginal utility drops to zero.After that point, if he is forced to consume even one more glass of luice, it will lead to disutility Such a decrease in satisfaction with consumption of successive units occurs due to Law of diminishing marginal utility