Of the following, which is NOT an essential assumption of the marginal utility theory of consumer demand?

Industrial Engineering Mcqs
BILAL KHATTAK0

A.Small income of the consumer
B.The fact that goods and services have a price
C.The fact that as more goods and services are purchased by the consumer, these goods and services yield decreasing amounts of marginal utility
D.Rationality of the consumer

Related Mcqs:

  1. The law of demand indicates the relationship between
  2. A consumer spends his income according to the law of:
  3. The elasticity of demand explains the relationship between
  4. Consumer goods’ means
  5. The substitution effect works to encourage a consumer to purchase more of as product when the price of tha good is falling because
  6. People will tend to demand money if they think
  7. Market demand for any good is a function of the
  8. In the short run, the competitive firm can maximise its profits (or minimise its losses) by
  9. Decrease in demand means:
  10. Demand for a commodity is elastic when

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