On what grounds is the law of diminishing marginal utility being criti

Question

On what grounds is the law of diminishing marginal utility being criticized by the modern economists?

23 Dec 2024

Answer :

Word Count : 273

The law of diminishing marginal utility, which suggests that as a person consumes more units of a good, the additional satisfaction or utility derived from each successive unit decreases, has faced several criticisms from modern economists.

Firstly, the law assumes that utility can be measured in a quantitative manner, which is highly subjective. Since ______ ________ ________ __________ ____.
________ ________ ____ ________ ______ _______.
________ ______ _______ ___ ________ ___.
___ _____ __________ ___ _______ __________.
____ _____ _________ ____ ________ ___ _________ ___ _______ _________.
___ _______ ___ ______ ______ _______ ____ _______.
_____ __________ __________ ________ ____.
_________ ____ ____ ____ ______ _________ ____ ________ _____ ___ ________.
_____ _______ __________ _______ _______ __________ ___.
______ ____ ______ _____ ________ ______ ____ _________ _________ _________.
__________ ______ ____ ______ __________ ______ ____ ______ _________ ___ __________.
____ ________ __________ ____ ______ __________ ______ __________.
___ __________ _________ ________ _______ _________.
___ _________ ______ _________ __________ _______ ___.
____ ___ ________ _____ __________ ____.
_____ ________ __________ ______ _______ _________ ________ _________ _________ ____ _________ ____.
_______ _________ ______ __________ _______ _____.
_______ ______ _____ ________ _____.
_____ _______ ___ _________ _______ __________ ________ ___ ____ _____ ______.
____ _________ ______ _______ _______ ______ __________.
___ ________ _______ __________ ___ ______ ____ ______ _____ _________.
__________ ____ ____ ________ _____ __________ _____ _____ _______.
___ ___ ___ __________ ______ ___ ____.
________ _________ ______ ___ ___ _________ _____ ________ ___ ______ ___.
________ ____ ______ ___ _______ ______ _________ __________ ____ ____.
___ _________ ________ _______ ________ _______ _______ ____ ________ _______ _________ ______.
______ ______ ________ ____ __________ _____ __________.
Get Full Answer on WhatsApp

IGNOU Solved Assignments Assignments Ignou Projects Project Previous Year Solved Exam Papers Notes Notes Sample Question Papers Sample Question Papers

IGNOU NEWS

Assignment Submission Last Date Extended Till 30 June 2026 Click Here★★★IGNOU June 2026 TEE Date Sheet Released Click Here★★★