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प्रश्न
The aggregate utility obtained from the consumption of a specific unit of a commodity is called ______.
पर्याय
Marginal utility
Total utility
Maximum utility
Additional utility
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उत्तर
The aggregate utility obtained from the consumption of a specific unit of a commodity is called Total utility.
Explanation:
Total Utility is the aggregate utility derived from the use of a single unit of a commodity. It denotes the complete satisfaction gained by consuming all feasible units of a good.
TU = ΣMU
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संबंधित प्रश्न
A consumer consumes only two goods X and Y and is in equilibrium. Show that when the price of good X rises, the consumer buys less of good X. Use utility analysis.
______ states that as the consumer will distribute his money income between the goods in such a way that the utility derived from the last rupee spent on each good is equal.
______ states that as more and more units of a commodity are consumed, the marginal utility derived from the additional units must decline.
Assertion (A): TU curve starts from the origin, increases at a decreasing rate, reaches a maximum, and then starts falling.
Reason (R): The rising MU curve shows the law of diminishing marginal utility.
Which of the following statement is false?
"The law states that a consumer will so allocate his expenditure so that the utility gained from the last rupee spent on each commodity is equal." Identify the law defined above.
When the marginal product becomes negative, then the total product starts ______
When is the consumer in equilibrium?
Identify the correctly matched pair of column A to that of Column B:
| Column A | Column B |
| (1) Marginal Utility | (a) The power or capacity of a commodity to satisfy human wants. |
| (2) Cardinal measure of utility | (b) The addition to total utility on consuming an additional unit of a commodity. |
| (3) Total Utility | (c) It is the sum total of utility derived from the consumption of all units of a commodity. |
| (4) Utility | (d) It is that measurement of utility, which is measured in terms of units. |
Which of the following are the correct assumptions for the utility approach?
The utility is a ______ concept.
How is utility measured in cardinal utility analysis?
In consumer equilibrium, a consumer ______.
According to the concept of utility, why does demand usually rise when price falls?
