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Question
When we add up utility derived from consumption of all the units of the commodities, we get ______.
Options
Total Utility
Initial utility
Marginal Utility
None of these
MCQ
Fill in the Blanks
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Solution
When we add up utility derived from consumption of all the units of the commodities, we get Total Utility.
Explanation:
Total utility is the sum of the satisfaction gained from all units consumed. Initial utility is from the first unit, while marginal utility is the addition from one more unit.
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