Business Studies, asked by sannasakil, 11 months ago

Explain The Difference between the law of MARGINAL UTILITY And the law of Equi-Marginal UTILITY

Answers

Answered by parvathy23

Answer:

Explanation:The law of equi-marginal utility states that the consumer will distribute his money income between the goods in such a way that the utility derived from the last rupee spend on each good is equal.

The Law Of Diminishing Marginal Utility states that all else equal as consumption increases the marginal utility derived from each additional unit declines.

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