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Byju's Answer
Standard XI
Economics
Law of Diminishing Marginal Utility
Formula for c...
Question
Formula for calculation of total utility is
A
T
U
=
∑
M
U
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B
T
U
=
M
U
1
+
M
U
2
+
M
U
3
+
.
.
.
+
M
U
n
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C
both (A) and (B)
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D
none of these
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Solution
The correct option is
C
both (A) and (B)
Total Utility (TU) is the sum total of utility derived from the consumption of all the units of a commodity.
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