Home » , , , » Relationship between the Law of Diminishing Marginal Utility and the Law of Equi-Marginal Utility

Relationship between the Law of Diminishing Marginal Utility and the Law of Equi-Marginal Utility

The law of equi-marginal utility is an extension of the law of diminishing marginal utility. It considers the satisfaction derived from the number of commodities at a time. the law of diminishing marginal utility is applicable only to a single commodity whereas the law of equi-marginal utility is applicable to several commodities at a time, therefore, it has greater practical value. 



Note: This is published for the internal use (of St. Philomena's College students) only and hence requires verification. 
Share this article :

Post a Comment

 
Fathimath Sama
Copyright © 2012. Oscar Education - All Rights Reserved