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Which assumption is necessary for the concept of consumer surplus to be applicable?a)Consumers have perfect knowledge of market prices.b)The marginal utility of money remains constant.c)There are no close substitutes available for the commodity.d)Consumers have varying tastes and preferences.Correct answer is option 'B'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Which assumption is necessary for the concept of consumer surplus to be applicable?a)Consumers have perfect knowledge of market prices.b)The marginal utility of money remains constant.c)There are no close substitutes available for the commodity.d)Consumers have varying tastes and preferences.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which assumption is necessary for the concept of consumer surplus to be applicable?a)Consumers have perfect knowledge of market prices.b)The marginal utility of money remains constant.c)There are no close substitutes available for the commodity.d)Consumers have varying tastes and preferences.Correct answer is option 'B'. Can you explain this answer?.

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