1. According to Marshall, the basis of consumer surplus is-
(A) Law of diminishing marginal utility (B) Law of equi-marginal utility
(C) Law of proportions (D) All of the above
2. For inferior commodities, income effect is-
(A) Zero (B) Negative
(C) Infinite (D) Positive
3. Which of the following is the second law of Gossen ?
(A) Law of equi-marginal utility (B) Law of equi-product
(C) Theory of indifference curve (D) Law of diminishing marginal utility