The concept of marginal utility plays a central role in ________.

supply analysis

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stock analysis

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demand analysis

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security analysis

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Solution

The correct option is C demand analysis
Marginal utility refers to the utility derived from the consumption of an additional unit of a commodity. It is of utmost importance in demand analysis of the consumers. The utility refers to the power of satisfying consumer's wants.

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Marginal utility analysis of consumer equilibrium assumes that utility can be expressed in terms of cardinal numbers which is a serious limitation of utility analysis.

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A consumer consumes only two goods X and Y whose prices are Rs. 2 and Rs. 1 per unit respectively. If the consumer chooses a combination of the two goods with marginal utility of X being 4 and that of Y being 4, is the consumer in equilibrium? Give reasons. Explain what a rational consumer would do in this situation. Use marginal utility analysis.

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The concept of marginal utility plays a central role in ________.

The correct option is C demand analysisMarginal utility refers to the utility derived from the consumption of an additional unit of a commodity. It is of utmost importance in demand analysis of the consumers. The utility refers to the power of satisfying consumer's wants.

The correct option is C demand analysis
Marginal utility refers to the utility derived from the consumption of an additional unit of a commodity. It is of utmost importance in demand analysis of the consumers. The utility refers to the power of satisfying consumer's wants.