Law of Equi-Marginal Utility:
The thought of equi-marginal principle was first introduced by H.H.Gossen (1810-1858) of Germany. Therefore it is termed as Gossen’s second Law. Alfred Marshall made important modifications of this law in his ‘Principles of Economics’.
The law of equi-marginal utility elucidates the behavior of a consumer whenever he consumers more than one commodity. Needs are unlimited however the income that is accessible to the consumers to satisfy all his needs is restricted. This law elucidates how the consumer spends his limited income on different commodities to obtain maximum satisfaction. The law of equi-marginal utility is also termed as the law of substitution or the law of maximum satisfaction or the principle of proportionality among prices and marginal utility.Definition:
In words of Prof. Marshall, “When a person has a thing that can be put to numerous uses, he will distribute it among such uses in such a manner that it has the similar marginal utility in all”.Assumptions:
1. The consumer is rational therefore he wants to acquire maximum satisfaction.2. The utility of each and every commodity is computable.3. The marginal utility of money stays constant.4. The income of the consumer is specified.5. The costs of the commodities are specified.6. The law depends on the law of retreating marginal utility.
Latest technology based Economics Online Tutoring Assistance
Tutors, at the www.tutorsglobe.com, take pledge to provide full satisfaction and assurance in Theory of Consumer Behavior help via online tutoring. Students are getting 100% satisfaction by online tutors across the globe. Here you can get homework help for Theory of Consumer Behavior, project ideas and tutorials. We provide email based Theory of Consumer Behavior help. You can join us to ask queries 24x7 with live, experienced and qualified online tutors specialized in Theory of Consumer Behavior. Through Online Tutoring, you would be able to complete your homework or assignments at your home. Tutors at the TutorsGlobe are committed to provide the best quality online tutoring assistance for Economics Homework help and assignment help services. They use their experience, as they have solved thousands of Economics assignments, which may help you to solve your complex issues of Theory of Consumer Behavior. TutorsGlobe assure for the best quality compliance to your homework. Compromise with quality is not in our dictionary. If we feel that we are not able to provide the homework help as per the deadline or given instruction by the student, we refund the money of the student without any delay.
Theory and lecture notes Solution Instability for the Explicit Method all along with the key concepts of differential equations, Difference Equations in Matrix Form. Tutorsglobe offers homework help, assignment help and tutor’s assistance on Solution Instability for the Explicit Method.
a prototype is a working system - it is not just assumptions and ideas on paper about the new system. like any computer based system the prototype consists of working software.
human engineering an essential step related to the human factors. is a multidisciplinary activity that applies knowledge derived from psychology and technology to specify and design high quality hci?
Differentiation and Growth of Cells tutorial all along with the key concepts of Cell Division, The Cell Cycle, Four Phases of Mitosis, Significance of Mitosis, Meiosis and Significance of Meiosis
excretory products in plants and animals tutorial all along with the key concepts of excretion in plants, excretory products in animals, nitrogenous waste products, other nitrogenous constituents and patterns of excretion
www.tutorsglobe.com offers requirement analysis homework help, assignment help, case study, writing homework help, Software Engineering online tutoring assistance by computer science tutors.
tutorsglobe.com changing picture of financial management assignment help-homework help by online financial management tutors
TutorsGlobe.com Alkanoates Assignment Help-Homework Help by Online Access Chemistry Tutors
TutorsGlobe.com Chart of Account Assignment Help-Homework Help by Online T - Accounts Tutors
tutorsglobe.com money supply assignment help-homework help by online money tutors
Classification of Algae-I tutorial all along with the key concepts of Criteria for categorization of Algae, Prokaryotic Algae, Eukaryotic Algae, Division CHLOROPHYTA, Division PHAEOPHYTA, Division RHODOPHYTA and Division XANTHOPHYTA
tutorsglobe.com marginal productivity theory of distribution assignment help-homework help by online economics tutors
Lipoproteins tutorial all along with the key concepts of Classification of lipoproteins, Composition of lipoproteins, Structure of lipoproteins, Function of lipoproteins, Plasma lipoprotein particles
Theory and lecture notes of Analyzing Debts and Deficits all along with the key concepts of analyzing debts and deficits, homework help, assignment help, budget balance, national debt, investment. Tutorsglobe offers homework help, assignment help and tutor’s assistance on Analyzing Debts and Deficits.
tutorsglobe.com capital budgeting and project planning assignment help-homework help by online financial management tutors
1930900
Questions Asked
3689
Tutors
1479050
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!