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Which is the second rule of H.H. Gossen?...

Which is the second rule of H.H. Gossen?

A

Law of Diminishing Marginal Utility

B

Law of Equi Marginal Utility

C

Consumer Surplus

D

Law of Variable Proportions

Text Solution

Verified by Experts

The correct Answer is:
B
Herman Heinrich Gossen renowned German economist. He propounded three laws of economics. Which are as follows-
First Law-Law of Deminishing Marginal Utility.
Second Law-Law of Equi-Marginal Utility.
Third law- Scarcity is a precondition for economic value.
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