Law of Equi-Marginal utility by Learn with Ravali
18:46
YouTubeLearn with Ravali
Law of Equi-Marginal utility by Learn with Ravali
The Law of Equi-Marginal Utility is a key concept in microeconomics and consumer behavior. It explains how a consumer allocates income among different goods to maximize total satisfaction. According to this law: A consumer reaches maximum satisfaction when the marginal utility per unit of money spent on all goods is equal. For example, if a ...
31.8K viewsAug 29, 2021
Marginalisation and Inequality
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