WebThe relation between total and marginal utility is explained with the help of Table 1. So long as total utility is increasing, marginal utility is decreasing up to the 4th unit. When total … Web4 jul. 2024 · When multiple products are being chosen, the condition for maximising utility is that a consumer equalises the marginal utility per pound spent. The condition for …
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CH.6 ECON Flashcards Quizlet
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