Ayushi Asked a Question
September 9, 2020 11:20 ampts 30 pts
The doctrine of consumer's surplus is based on: 1. The indifference curve analysis 2. The theory of revealed preference 3. The law of diminishing marginal utility 4. The law of substitution
  • 1 Answer(s)
  • Shares
  • Nidhi taparia Best Answer
    Option 3 is correct. The concept of Consumer Surplus is derived from the law of Diminishing Marginal Utility. It is because of diminishing marginal utility that consumer's willing...
    Show more
    Likes(0) Reply(0)