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Question
With the increase in consumption by one unit of the commodity, TU increases from 150 to 180, then marginal utility is _________.
With the increase in consumption by one unit of the commodity, TU increases from 150 to 180, then marginal utility is _________.
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Solution
The correct option is C 30
Marginal utility refers to the difference between total utility of an unit with the total utility of the previous unit. Therefore, marginal utility= 180-150= 30.
Marginal utility refers to the difference between total utility of an unit with the total utility of the previous unit. Therefore, marginal utility= 180-150= 30.
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