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Marginal Utility

At the time o...

Question

At the time of consumption of __________ Total utility, Average utility, Marginal utility are same.

A

1st unit

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B

2nd unit

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C

3rd unit

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D

4th unit

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Solution

The correct option is A 1st unit
In the first unit of consumption, the additional or marginal utility will be the total utility as total utility is the summation of all the previous marginal utilities which has just started. Moreover, the average utility is calculated by dividing the total utility of 1st unit by 1 which will yield total utility only.

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