During the middle of the nineteenth century, economics theory changed to the microeconomics which focuses on the decisions of the firm and the consumer. Scholars from the marginal revolution are Carl Menger, William Stanley Jevons and Leon Walras. This three scholars are well-known for their contribution to the marginalist school and the growth from marginalist school to the neoclassical school. Alfred Marshall, economist from England is the one that established the neoclassical economics. In this section,it will focus on William Stanley Jevons, a British economist that was born in Liverpool. Jevons was born on September 1, 1835 and his famous publication is “Theory of Political Economy”.
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