Assertion (A): “Utility will be maximised when the marginal unit of expenditure in each direction brings the same increment of utility.” Reason (R): A consumer will try to maximise his utility.
(i) Economic Theory and Operations Analysis by W.J. Baumol. (ii) An introduction to positive Economics by R. G. Lipsey (iii) Economics by P. Samuelson (iv) Managerial Economics by Joel Dean.
Assertion (A): Business Economics is tool centrics facilitating decision making in business Reason (R): It provides an analytical understanding of economic activities. Codes:
(i) Sweezy’skinded demand curve model (ii) Newman and Morgenstern Game Theory model (iii) Cournal’s duopoly model (iv) Baumal’s sales maximisation model Arrange them in correct sequence as per order of evolution