“Utility or satisfaction is a subjective concept; therefore it could only be ranked”. The statement supports

Related MCQs

• When the expected utility is greater than utility of the certail income
• ‘Higher the indifference curve higher will be level of satisfaction’. The statement is
• Hicks and Allen believed that utility:
• Total utility is
• Marginal utility for money is positive in case of
• The marginal utility curve of income curve is a straight line for