Question

Clarify the limitations of the Law of Equi-marginal Utility. OR
Describe the various determinant factors of demand.

Answer 1

Answer:

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Limitations of the Law of Equi-Marginal Utility

Limitations of the Law of Equi-Marginal UtilityFirstly, the utility derived from commodities is not measurable in cardinal numbers. Secondly, the marginal utility of money cannot be constant. As the money you possess depletes, the marginal utility of money increases

Explanation:

or.

The five determinants of demand are:

• The price of the good or service.
• The income of buyers.
• The income of buyers.The prices of related goods or services. ...
• The income of buyers.The prices of related goods or services. ...The tastes or preferences of consumers.
• The income of buyers.The prices of related goods or services. ...The tastes or preferences of consumers.Consumer expectations.

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Answer 2

Answer:

limitations of law of equi marginal utility