WAEC Economics 2015 Objective — Question 14
Question 14 of 50 from the West African Examinations Council (WAEC) Economics 2015 Objective paper, with the correct answer and a full explanation.
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In order to calculate total utility (TU) from given levels of marginal utility (MU), one has to
- A. subtract MU from TU
- B. add MU from the various levelsCorrect
- C. multiply MU by the initial levels
- D. divide current MU by previous MU
Explanation
Total utility is obtained by summing (adding together) the marginal utilities at each successive level of consumption.
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