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Total utility is equal to which of the following:

a. consumer equilibrium
b. marginal utility when marginal utility is equal to zero
c. the sum of the marginal utilities for all units of a good consumed
d. all of the above

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Sonia Dhawan
Sonia DhawanLv10
24 Oct 2020
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Related questions

11) For a consumer to maximize utility from a given income, A) the marginal utility from each good must be maximized. B) the total utility from each good must be maximized. C) the marginal utilities of all goods and services consumed must be equal. D) the marginal utility per dollar from all goods and services consumed must be equal E) the amount of each good consumed per dollar must be equal.

Total utility is maximized when the ________ for all goods.

A. marginal utilities are zero

B. marginal utilities are maximized

C. marginal utility per dollar spent is equal

D. marginal utilities are negative

47) Total utility equals A) the marginal utility of the last unit divided by price. B) the sum of the marginal utilities of each unit consumed. C) the marginal utility of the last unit consumed multiplied by the total number of units consumed. D) the area below the demand curve but above the market price. E) the slope of the marginal utility curve.

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