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Question
Observe the given table and answer the questions given below:
| Units of a commodity | TU units | MU units |
| 1 | 6 | 6 |
| 2 | 11 | 5 |
| 3 | 15 | 4 |
| 4 | 15 | 0 |
| 5 | 14 | -1 |
- Draw the total utility curve and marginal utility curve.
- (i) When the total utility is maximum, marginal utility is ______.
(ii) When total utility falls, marginal utility becomes ______.
Answer in Brief
Solution
- Total Utility Curve and Marginal Utility Curve.
- (i) When the total utility is maximum, the marginal utility is zero.
(ii) When total utility falls, marginal utility becomes negative.
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RELATED QUESTIONS
Complete the following statement by choosing the correct alternatives:
Point of Satiety means _______
Observe the given table and answer the questions given below it:
| Unity of a commodity |
Total Utility (TU) units |
Marginal Utility (MU) units |
| 1 | 6 | `square` |
| 2 | `square` | 5 |
| 3 | 15 | 4 |
| 4 | 15 | `square` |
| 5 | `square` | -1 |
Questions:
- Complete the above table.
- a. When the total utility is maximum, marginal utility is - `square`
b. When total utility falls, the marginal utility becomes - `square`
Identify and explain the Concept from the given illustration:
Milind refused to eat the fourth chocolate after eating three chocolates.
Give an economic term:
A state beyond the point of satiety.
Identify and explain the concept from the given illustration:
Ankit refused to eat the fourth chapati after eating three chapatis.
