2 marksTheory of Consumer Demand
CAPE Economics Unit 1 · 2006 · Paper 1 · Question 4(a)
Define the term 'marginal utility'.
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Practise this questionOther parts of this question
- 4(b)(i)Explain how the purchase of additional units of a commodity will affect total utility.[1 mark]
- 4(b)(ii)Explain how the purchase of additional units of a commodity will affect marginal utility.[1 mark]
- 4(c)Explain why a consumer may purchase more of a commodity if its price is less than its marginal utility, all things being equal.[2 marks]
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