GK-Economics MCQ Question and Answer
GK-Economics MCQ Question and Answer
31. Which of the following is the second law of Gossen ?
- Law of equi-marginal utility
- Law of equi-product
- Theory of indifference curve
- Law of diminishing marginal utility
32. Total utility of a commodity is measured by which price of that commodity ?
- Value in use
- Value in exchange
- Both of above
- None of above
33. According to Marshall, the basis of consumer surplus is—
- Law of diminishing marginal utility
- Law of equi-marginal utility
- Law of proportions
- All of the above