The theory of marginal utility was propounded by _________.

Thomas Hardy

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Winston Churchill

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Alfred Marshall

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Samuelson

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Solution

The correct option is D Alfred Marshall
The theory of marginal utility was given by Alfred Marshall. According to the theory, the marginal utility of a consumer goes on falling as he/she consumes more and more of a product.

Marginal utility is the additional satisfaction a consumer gains from consuming one more unit of a good or service.

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