Advertisements
Advertisements
प्रश्न
Define or explain the following concept:
Total utility
उत्तर
Total utility refers to the aggregate utility, or the summation of utility, derived from the consumption of all the units of a commodity i.e. total utility is the sum of marginal utility. Algebraically,
TUn = MU1 + MU2 + MU3 +..............+ MUn = ∑MU
APPEARS IN
संबंधित प्रश्न
Answer the following question.
Explain the relationship between Total utility and Marginal utility.
Answer the following question :
Explain the relationship between ‘total utility’ and ‘marginal utility’.
State whether the following statements are TRUE or FALSE:
Marginal utility increases with increase in consumption.
State whether the following statements are TRUE or FALSE:
In deficit budget, expenditure is more than income.
Choose the correct answer :
The capacity of a commodity to satisfy human want is known as _________.
Do you agree with the following statements? Give reasons.
Marginal utility and Total utility is same.
Fill in the blank with appropriate alternatives given below:
Marginal utility diminishes, as consumption of commodity ________.
Fill in the blank with appropriate alternatives given below:
When MU is ______________ TU decreases.
State the following statement is True or False:
MU and TU are equal at the initial stage.
Define or explain the following concept:
Marginal utility
Give reason or explain:
Utility is a psychological term.
Give reason or explain:
Utility is ethically neutral.
Write short note on:
Equi-marginal utility
Answer the following question:
Explain the relationship between TU and MU.
State with reason whether you agree or disagree:
When MU is zero, TU diminishes.
Answer the following question.
Define marginal utility. When can it be negative?
Answer the following question.
Discuss briefly, using a hypothetical schedule, the relation between marginal utility and total utility.
Choose the correct answer from given options
When marginal utility is zero, total utility is
Explain the Law of Equi-Marginal Utility
Utility maximising consumers would like to decrease the consumption when ______.
