Question : Who has propounded the law of diminishing marginal utility?

Option 1: Marshall

Option 2: AC Pigou

Option 3: Gossen

Option 4: Hicks and Allen

Question : What is the First Law of Gossen?

Option 1: Law of Equi-marginal utility

Option 2: Law of Diminishing marginal utility

Option 3: Law of supply

Option 4: Law of demand

Question : Law of Demand is a:
(a) Qualitative Statement
(b) Quantitative Statement
 

Option 1: Only A

Option 2: Only B

Option 3: Both A and B 

Option 4: None of the above

Question : Which of the following is the basis of diminishing marginal utility?

Option 1: Law of supply

Option 2: Laws of return

Option 3: Law of demand

Option 4: None of the above

Question : In which of the following cases does the law of demand fail?

Option 1: Giffen goods

Option 2: Normal goods

Option 3: Inferior goods

Option 4: Both Giffen and inferior goods