If a particular consumer derives total utility of 22 utils having consumed 4 units of a given product, his average utility will be
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Correct Answer: Option C
Explanation:
Average utility will be the total utility derived form the consumption of a commodity divided by the number of units consumed. Thus we have;
22 ÷ 4 = 5.5 utils
Average utility will be the total utility derived form the consumption of a commodity divided by the number of units consumed. Thus we have;
22 ÷ 4 = 5.5 utils