Post Utme Crawford University 2019 Economics Question 31

Practice objective / multiple choice question 31 from the 2019 Post Utme Crawford University Economics examination.

Post Utme Crawford University 2019 Economics Objective / Multiple Choice
Question 31 POST_UTME_CRAWFORD_UNIVERSITY • 2019 • ECONOMICS • objective

In a perfectly competitive market, the law of diminishing marginal utility implies that the marginal utility of the last unit consumed is equal to the marginal utility of the first unit consumed. What is the correct statement regarding the relationship between marginal utility and total utility?

Answer Options

A. Marginal utility is always greater than total utility.
B. Marginal utility is always less than total utility.
Correct Answer C. Marginal utility is equal to total utility.
D. Marginal utility is inversely related to total utility.
Correct Answer
C
Correct Option:
Marginal utility is equal to total utility.

About This Question

This is Post Utme Crawford University 2019 Economics Question 31. It is one of the objective questions from the 2019 Post Utme Crawford University Economics examination.

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