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WAEC Economics 2025 Question 47

Question 47

Theory of Consumer Behaviour

If the price of a commodity is higher than its marginal utility, the consumer will

  1. A.consume less to increase marginal utility.
  2. B.consume more to increase total utility.
  3. C.buy more to add to average utility.
  4. D.buy more to minimise total utility.
Show the answer and explanation

Answer: A (consume less to increase marginal utility.)

Explanation

Buying fewer units raises MU until it equals the price.