wiz-icon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

Define total utility.

Open in App
Solution

Total utility is the sum total of utility derived from the consumption of all units of a commodity. Total utility refers to the summation of marginal utilities derived from consumption of every unit of the commodity.

flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Utility
ECONOMICS
Watch in App
Join BYJU'S Learning Program
CrossIcon