Question

When the utility one derives from it depends on the number of users or individuals using it.This concept is used in public finance.
give economic term.​

Answer 1

Answer:

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Explanation:

• Total utility measures the total satisfaction from a specific quantity of goods or services. Total utility operates hand in hand with marginal utility, which measures the additional satisfaction received from the consumption of a good or service. As long as marginal utility is positive, total utility will increase.
• It is a theory postulated in economics to explain behavior of individuals based on the premise people can consistently rank order their choices depending upon their preferences. ... Utility theory is a positive theory. that seeks to explain the individuals' observed behavior and choices.
• A consumer should spend his limited money income on the goods which give him the most marginal utility per dollar. ... Only when the ratio of MU/P is equal for all goods is a consumer maximizing his total utility.