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Question
The aggregate utility obtained from the consumption of a specific unit of a commodity is called ______.
Options
Marginal utility
Total utility
Maximum utility
Additional utility
MCQ
Fill in the Blanks
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Solution
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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