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Question
The utility derived from all units of the given commodity is called ______.
Options
average utility
marginal utility
place utility
total utility
MCQ
Fill in the Blanks
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Solution
The utility derived from all units of the given commodity is called total utility.
Explanation:
Total utility refers to the summation of utilities derived from the consumption of all the units of a given commodity. It is said to be the aggregate or the sum total of all the utilities derived.
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