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प्रश्न
Do you agree with the following statements? Give reasons.
Marginal utility and Total utility is same.
उत्तर
No, we do not agree with the statement. Marginal utility and Total utility are different concepts. The following are the points of difference.
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Total Utility
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Marginal Utility
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It is the aggregate utility derived from the consumption of all the units of a commodity.
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It is the addition to the total utility due to the consumption of an additional unit of a commodity.
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TUn = MU1 + MU2 + MU3 + ....+ MUn = ∑MU
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MUn = TUn– TUn –1
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It is the utility derived from all the units consumed.
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It is the utility derived from the additional or last unit consumed.
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| The TU curve initially increases at an increasing rate, then increases at a decreasing rate and after reaching the maximum point, declines. | The MU curve decreases with increasing TU, becomes zero when TU is maximum, and becomes negative when TU declines. |
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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.
Fill in the blanks with appropriate alternatives given in the bracket.
Marginal consumption function is always ________.
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:
_________________ utility is the utility derived from the last unit of the commodity consumed.
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:
Total utility
Define or explain the following concept:
Marginal utility
Give reason or explain:
Utility is a psychological term.
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 ______.
