WAEC Economics 2025 Objective — Question 16
Question 16 of 51 from the West African Examinations Council (WAEC) Economics 2025 Objective paper, with the correct answer and a full explanation.
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If the price of a commodity is higher than its marginal utility, the consumer will
- A. consume more to increase total utility.
- B. consume less to increase marginal utility.Correct
- C. buy more to minimise total utility.
- D. buy more to add to average utility.
Explanation
If price exceeds marginal utility, the consumer buys less so that marginal utility rises back to equal price (utility maximisation).
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