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प्रश्न
Answer the following question :
Explain the relationship between ‘total utility’ and ‘marginal utility’.
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उत्तर
The relationship between MU and TU is as :
(i) When MU is positive, TU rises.
(ii) When MU is zero, TU is maximum.
(iii) When MU is negative, TU falls. The following utility schedule and diagram illustrate the relationship :
| Units | TU | MU |
|
1 2 3 4 |
8 14 TU 18 rises 20 |
8 6 MU is + ve 4 2 |
| 5 | 20 ] TU Max. | 0] MU is zero |
| 6 | 18] TU falls | -2] MU is - ve |
APPEARS IN
संबंधित प्रश्न
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 _________.
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 the following concept:
Total utility
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.
Define marginal utility.
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 ______.
What does total utility (TU) represent?
What is marginal utility (MU)?
What happens to marginal utility as more units of a good are consumed?
When does total utility reach its maximum point?
What is the consequence of continuing to consume after marginal utility becomes negative?
