Question

Limitions of equi-marginal utility

Answer 1

Answer:

Explanation:

Limitations of the Law of Equi-Marginal Utility

• Firstly, 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

Answer 2

Answer:

Limitations of the Law of Equi-Marginal Utility

Firstly, 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