Economics · History of Economic Thought
Arrange the following economic developments and events related to demand and utility analysis in chronological order based on their occurrence or conceptual formulation: A. The refinement of Indifference Curve analysis by J.R. Hicks and R.G.D. Allen. B. The work of 19th-century economists such as Gossen, Jevons, and Menger on the Law of Diminishing Marginal Utility. C. The initial development of Indifference Curve analysis by Vilfredo Pareto. D. The dramatic fall in smartphone prices that expanded demand through the New Consumers Effect. Select the correct answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1B, C, A, D✓
- 2D, C, B, A
- 3C, A, B, D
- 4A, B, C, D
Correct answer
B, C, A, D
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