Suppose consumption bundle A contains 2 books and 5 candy bars, consumption bundle B contains 4 books and 4 candy bars, and consumption bundle C contains 3 books and 2 candy bars. If consumption bundle A provides the same amount of utility as consumption bundle C, which of the following must be true? O a. The marginal utility of books is greater than the marginal utility of candy bars O b. Consumption bundle B provides the least utility Oc The marginal utility of candy bars is greater than the marginal utility of books Od. Consumption bundle B provides the most utility

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Form Utility

The term utility in general refers to the satisfaction earned from usage of a particular product or service. Utility always plays an important role because it influences various important elements like demand & thereby the price of the good or service as well. Though utility is not easy to measure, various types of economic models can be used indirectly. There can be various types of utilities like economic utility, marginal utility, cardinal utility, form utility.