GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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If we eat three mangoes at dinner time, the total amount of satisfaction obtained is called ____
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Total Utility
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Marginal Utility
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -The total utility of consuming a good is equivalent to the amount of money that would give the consumer the same level of happiness. For example, the level of happiness or satisfaction you obtain from eating a chocolate bar can be measured by the amount of money that would give you the same level of happiness.
Detailed explanation-2: -total utility The total amount of satisfaction derived from the consumption of a single product or a combination of products.
There is 1 question to complete.