Jevons' theory of value is based on which kind of utility?
Average
Total
Marginal
Infinite
Answer
Certainly! Here's a concise explanation: Marginal utility forms the basis of Jevons' theory of value. It proposes that the value of a commodity is determined by the additional satisfaction derived from consuming one more unit of that commodity, considering the limited availability of resources.
Unlocking the Genius of William Stanley Jevons: A Voyage Through Economic Thought and Logical Mastery
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