Match the list -I with List -II

LIST-I Concept	LIST-II Formula
A. Total Utility	I. MU1+MU2+______MUn
B. Marginal Utility	II. TUn−TUn−1​
C. Average Fixed Cost	III. ΔTC/ΔQ
D. Marginal Cost	IV. TFC/Q

Options:

Correct option is C

The matching of the concepts from List-I with their corresponding formulas in List-II:
· A. Total Utility (TU): Total utility is the sum of the utility derived from consuming all units of a good. If MU1,MU2,……, MUn represent the marginal utility from each successive unit consumed, then total utility is MU1+MU2+‾MUn. Therefore, A matches with I. MU1+MU2+……+MUn
· B. Marginal Utility (MU): Marginal utility is the additional utility gained from consuming one more unit of a good or service. It is calculated as the change in total utility resulting from a one-unit change in consumption. The formula is TUn−TUn−1​, Where TUn is the total utility from �� units and ������−1 is the total utility from ��−1 units. Therefore, B matches with II. TUn−TUn−1​
· C. Average Fixed Cost (AFC): Average fixed cost is the total fixed cost (TFC) per unit of output (Q). It is calculated by dividing total fixed cost by the quantity produced. The formula is TFC/Q .Therefore, C matches with IV. TFC/Q
· D. Marginal Cost (MC): Marginal cost is the additional cost incurred from producing one more unit of output. It is calculated as the change in total cost (ΔTC) divided by the change in quantity (ΔQ). The formula is ΔTC/ΔQ. Therefore, D matches with III. ΔTC/ΔQ
Based on these matches, the correct option is: A-I, B-II, C-IV, D-III.