January 2018

Law of Equi-Marginal Utility: Criticism and Limitation

CRITICISMS, LIMITATIONS, OR EXCEPTIONS OF THE LAW OF EQUI-MARGINAL UTILITY Following are the main reasons for the criticism of the Law of Equi-marginal utility by H. H. Gossen. Although, it is a basic law of economics and consumers knowingly or unknowingly are compelled, to follow this law. This law is applicable in every field of …

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