#gossen's_second_law

Gossen's second law

Optimize by equalizing marginal utilities

Gossen's Second “Law”, named for Hermann Heinrich Gossen (1810–1858), is the assertion that an economic agent will allocate his or her expenditures such that the ratio of the marginal utility of each good or service to its price is equal to that for every other good or service. Formally,

Thu 7th

Provided by Wikipedia

Learn More
0 searches
This keyword has never been searched before
This keyword has never been searched for with any other keyword.