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…
Choose your answer
Match the items of List-I with the items of List-II :
| List-I | List-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 |
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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UGC NET Commerce