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

Related MCQs

• When Total utility is increasing at an decreasing rate, marginal utility is
• When Total Utility is maximum, Marginal Utility is :
• When Marginal Utility is negative, Total Utility:
• ‘Higher the indifference curve higher will be level of satisfaction’. The statement is
• The concept of utility was introduced by
• _________ is distinctive for much greater use of mathematics than the other social sciences, a development made possible by the development of a concept of utility
• Utility is the concept which is:
• Changes in the subjective or objective factors
• Keynes considered subjective and objective factors:
• Which of the following statement is FALSE with regard to marginal utility