Which of the following statements is correct? Marginal utility is the sum of total utility. Total utility is the sum of marginal utilities. Total utility is the product of multiplying price times marginal utility. Total utility is the change in marginal utility as quantity consumed increases.

Total utility is the sum of marginal utilities .

Explanation:

In the economy, utility is a measure of relative satisfaction. In other terms, it is a term that refers to the total satisfaction that a consumer experiences when consuming a good or service. Given this measure, one can speak of increasing or decreasing utility in a meaningful way and thus explain economic behavior in terms of attempts by the economic agent to increase his or her utility. Utility is often modeled as a unit influenced by the consumption of various goods and services, the possession of wealth and the enjoyment of free time.  Total utility, therefore, is the sum of all the marginal utilities that compose the total accumulation of consumption of the individual.

answer: 11/12

step-by-step explanation: 4 1/4 and 3 1/3 is equivalent to 4 3/12 and 3 4/12. 4 3/12 - 3 4/12 =11/12