(Solution) 12. Under Law Of Demand (A) Price Of Commodity Is An Independent Variable (B) Quantity Demanded Is A Dependent Variable (C) Reciprocal Relationship | Snapessays.com


(Solution) 12. Under law of demand (A) Price of commodity is an independent variable (B) Quantity demanded is a dependent variable (C) Reciprocal relationship


12. Under law of demand—(A) Price of commodity is an independent variable(B) Quantity demanded is a dependent variable(C) Reciprocal relationship is found between price and quantity demanded(D) All of the above 15. Utility means—(A) Power to satisfy a want (B) Usefulness(C) Willingness of a person (D) Harmfulness 20. According to Marshall, the basis of consumer surplus is—(A) Law of diminishing marginal utility (B) Law of equi-marginal utility(C) Law of proportions (D) All of the above

 


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This question was answered on: May 23, 2022

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