Match each utility concept on the left with its corresponding mathematical or economic des… — JAMB UTME

Match each utility concept on the left with its corresponding mathematical or economic description on the right.

Total Utility ( $TU$ )The overall satisfaction obtained from consuming a specific total quantity of a commodity.
Marginal Utility ( $MU$ )The additional satisfaction gained from consuming one more unit of a commodity ( $\frac{\Delta TU}{\Delta Q}$ ).
Average Utility ( $AU$ )The amount of satisfaction derived per unit of commodity consumed ( $\frac{TU}{Q}$ ).
Point of SaturationThe consumption state where Total Utility reaches its maximum and Marginal Utility equals zero.

Cevap

Total Utility corresponds to the overall satisfaction obtained from consuming a specific total quantity of a commodity. Marginal Utility corresponds to the additional satisfaction gained from consuming one more unit of a commodity. Average Utility corresponds to the satisfaction derived per unit of commodity consumed. Point of Saturation corresponds to the consumption state where Total Utility reaches its maximum and Marginal Utility equals zero.

Total Utility represents cumulative satisfaction (

TU

), Marginal Utility represents the change in total utility per additional unit consumed (

\frac{\Delta TU}{\Delta Q}

), Average Utility represents satisfaction per unit (

\frac{TU}{Q}

), and the Point of Saturation is the boundary where Total Utility peaks and Marginal Utility drops to zero.

Adım Adım Çözüm

Define Total Utility (

TU

)

Identified that

TU

measures total aggregate satisfaction.

By definition, Total Utility sums all satisfaction up to a specific consumption level.

Define Marginal Utility (

MU

)

Identified that

MU = \frac{\Delta TU}{\Delta Q}

Marginal utility isolates the incremental effect on satisfaction from one extra unit.

Define Average Utility (

AU

)

Identified that

AU = \frac{TU}{Q}

Average utility expresses satisfaction on a per-unit basis.

Define Point of Saturation

Identified that at saturation,

TU

is at its maximum and

MU = 0

Consuming beyond this point yields negative marginal utility (disutility).

Anahtar Kavram

Concepts of Utility (Total, Average, and Marginal Utility)

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Cevap

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