Question

1)want satisfying power of a commodity is called -------
( utility, production)

2) what will be the condition of total utility ,when marginal utility stays positive? ( diminishing, increasing)

3) when total utility is increasing at diminishing rate , marginal utility must be ---------
a) increasing. b) decreasing c) constant
d) negative

4) write formula for calculation of marginal utility?




pls help mee​

Answer 1

Answer:

1)Utility is the want satisfying power of a commodity

• utility is different from usefulness
• a commodity may possess utility even though it may not be useful
• example: tobacco consumption gives utility to a person but it is not useful for him.

2)when marginal utility goes on increasing,the total utility also increases but shows a diminishing rate.

• when marginal utility is zero, total utility is maximum
• when marginal utility is negative, there is a fall in total utility.

3) a) increasing

• (explanation mentioned in question 2)

4)formula in the above image

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