WAEC Economics 2014 Objective — Question 22
Question 22 of 50 from the West African Examinations Council (WAEC) Economics 2014 Objective paper, with the correct answer and a full explanation.
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The rate of increase in utility is
- A. average utility
- B. increasing utility
- C. total utility
- D. marginal utilityCorrect
Explanation
The rate at which the total utility is increasing is the marginal utility added as quantity increases. Therefore, the marginal utility curve is the slope of the total utility curve.
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