Which of the following is not an assumption of theory of consumer behaviour in Marshallian analysis ?
The conventional Marshallian cardinal-utility analysis assumes a constant marginal utility of money. The claim that it is not constant is therefore outside those assumptions.
Choose your answer
Which of the following is not an assumption of theory of consumer behaviour in Marshallian analysis ?
Answer and explanation
Correct answer D
The conventional Marshallian cardinal-utility analysis assumes a constant marginal utility of money. The claim that it is not constant is therefore outside those assumptions.
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RPSC School Lecturer (School Education)