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Match the items of List-I with the items of List-II : List-IList-II (a) Law of diminishing marginal (i)…

Conceptually, (a) Law of diminishing marginal utility belongs to the (iii) Cardinal approach; (b) Relationship between the price of one commodity and demand for another…

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Match the items of List-I with the items of List-II :

List-IList-II
(a) Law of diminishing marginal(i) Cross demand utility
(b) Relationship between price of(ii) Oligopoly one commodity and demand for other commodity
(c) Skimming the cream policy(iii) Cardinal approach
(d) Price rigidity(iv) Pioneer pricing
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Answer and explanation

Correct answer C

Conceptually, (a) Law of diminishing marginal utility belongs to the (iii) Cardinal approach; (b) Relationship between the price of one commodity and demand for another commodity is (i) Cross demand; (c) Skimming the cream policy is a form of (iv) Pioneer pricing; and (d) Price rigidity is a feature of (ii) Oligopoly. In the printed table where the code columns were ordered (d), (c), (b), (a), this yields the sequence (ii), (iv), (i), (iii).

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