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Questions and Answers
Utility is a ______ concept
Utility is a ______ concept
cardinal
The ______ of a commodity diminishes
The ______ of a commodity diminishes
marginal utility
The total utility of a basket of goods depends on the quantities of the ______ commodities
The total utility of a basket of goods depends on the quantities of the ______ commodities
individual
The consumer's main objective is to maximize his/her ______
The consumer's main objective is to maximize his/her ______
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The utility gained from successive units of a commodity ______
The utility gained from successive units of a commodity ______
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