On which law of consumption the concept of consumer’s surplus is based?

Related MCQs

• The marginal condition for a Pareto-optimal or -efficient distribution of commodities among consumers requires that the MRS between ______ be equal for all consumers.
• Who has sought to measure Consumer’s Surplus with the help of indifference curve technique?
• When two commodities X and Y must be allocated among consumers, a necessary condition for distributive efficiency is that:
• In Pareto welfare economics, Efficiency of distribution of commodities among consumers is related to
• The concept of Quasi-rent mean
• The concept of social optimum was introduced in Welfare Economics by
• The concept of Social Welfare function was firstly introduced by
• The concept of ‘Social Welfare Function’ was propounded by A. Bergson in his article ‘A Reformulation of Certain Aspects of Welfare Economics’ published in the year 1938
• The ‘iron law of wages’ is
• The relation that the law of demand for factor defines is.