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Marginal Utility

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Question

When a relationship between DMU of a product and its prices is decided than it helps in determining __________.

A

total marginal value of a product

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B

average utility of product

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C

price of product in market

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D

total utility value of product

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Solution

The correct option is D price of product in market
When the diminishing marginal utility is set in the market then that is compared with various prices in the market for the commodity which decides the ideal price for the commodity in the market which the consumer is willing to pay if they get required utility from the product.

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0	0	0
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