Question

    The additional Utility derived by an individual, by the

    consumption of one more unit of a commodity
    A Total Utility Correct Answer Incorrect Answer
    B Marginal Utility Correct Answer Incorrect Answer
    C Both Correct Answer Incorrect Answer
    D None Correct Answer Incorrect Answer

    Solution

    The additional utility derived by an individual from consuming one more unit of a commodity is known as Marginal Utility. Total Utility refers to the overall satisfaction or benefit obtained from the consumption of all units of a particular good or service.

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