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    Question

    Concept of 'Consumer's Surplus' was evolved by

    A Dr Alfred Marshall Correct Answer Incorrect Answer
    B J M Keynes Correct Answer Incorrect Answer
    C Adam Smith Correct Answer Incorrect Answer
    D E Boulding Correct Answer Incorrect Answer

    Solution

    As first developed by Jules Dupuit, French civil engineer and economist, in 1844 and popularized by British economist Alfred Marshall, the concept depended on the assumption that degrees of consumer satisfaction (utility) are measurable.

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