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Total utility is maximum when:
  • a)
    Marginal utility is maximum
  • b)
    Marginal utility is Zero
  • c)
    Average utility is maximum
  • d)
    Average utility is Zero
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Total utility is maximum when:a)Marginal utility is maximumb)Marginal ...
Total utility is maximum when Marginal utility is zero. It is based in the law of diminishing marginal utility which says 'as more and more units of a good are consumed, MU i.e level of satisfaction derived from each successive unit goes on falling because desire for that commodity tend to fall.
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Total utility is maximum when:a)Marginal utility is maximumb)Marginal utility is Zeroc)Average utility is maximumd)Average utility is ZeroCorrect answer is option 'B'. Can you explain this answer?
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