Q192
Law of substitution is another name for law of
A.
Law of diminishing MU
B.
Law of Equi-MU
AnswerC.
Law of demand
D.
Satisfaction
Answer: Option B
Solution
Answer: Option B
Solution:
Law of substitution is another name for law of Law of Equi-MU. The Law of equimarginal Utility is another fundamental principle of Economics. This law is also known as the Law of substitution or the Law of Maximum Satisfaction.