Total Utility Formula Explained | Economics 12th
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Total Utility Formula Explained | Economics 12th
Which formula correctly represents the calculation of Total Utility (TU)? Options: 1) $TU = MU_1 times MU_2 times MU_3 times ... times MU_n$, 2) $TU = sum MU$, 3) $TU = MU_1 + MU_2 - MU_3 + ... + MU_n$, 4) $TU = MU_1 div MU_2 div MU_3 div ... div MU_n$. Correct answer: $TU = sum MU$ or $TU = MU_1 + MU_2 + MU_3 + ... + MU_n$. This video explains ...
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