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3 November, 23:34

Total utility A. cannot decrease as a person consumes more and more of a good. B. has a constant rate of increase as a person consumes more and more of a good. C. is equal to the sum of the marginal utilities of all units consumed. D. is negative when marginal utility is declining.

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  1. 3 November, 23:44
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    Answer: Option (C) is correct.

    Explanation:

    Correct option: is equal to the sum of the marginal utilities of all units consumed.

    Total utility refers to the aggregate satisfaction that a person can get from consuming the units of goods and services. Each consumer can get different utilities from each unit or we can say that every unit gives him/her a different level of utility.

    These individual utilities from units of the goods are known as marginal utility.

    Marginal utility also refers to the utility that a consumer can get from an additional unit consumed.

    So, total utility is simply the sum marginal utilities of all the units that a consumer consumed.
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Home » Business » Total utility A. cannot decrease as a person consumes more and more of a good. B. has a constant rate of increase as a person consumes more and more of a good. C. is equal to the sum of the marginal utilities of all units consumed. D.
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