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WAEC Economics 2014 Question 22

Question 22

Theory of Consumer Behaviour

The rate of increase in utility is

  1. A.average utility.
  2. B.increasing utility.
  3. C.total utility.
  4. D.marginal utility.
Show the answer and explanation

Answer: D (marginal utility.)

Explanation

Marginal utility is the change in total utility from one more unit.