To obtain the greates utility consumer should allocate money income so that last dollar spent on each good or service yields the same marginal utility ?

Related Mcqs:

An analytic approach in which we move from general to particular from theory to facts is_________________?

A. Induction B. Deduction C. Specification D. None...

An individuals demand curve is down sloping because_____________________?

A. Price and quantity demanded are inversely related B. P & D are directly related C. There is no relation bet P & D D. None...

Urban population in LDC’s_________________?

A. 464 % B. 50 % C. 36 % D. 20 %...

A good and service is indivisible and to which the exclusion principle does apply is called_________________?

A. Public service B. Public good C. Public finance D. Public debt...

A ratio that shows the unit of capital required to produce a unit of output over a given period of time?

A. Capital input ratio B. Capital output ratio C. Capital intensive ratio D. None...