Dilla University Department of Economics Introduction to economics Assignment for Natural science students (20%) 1. What is consumer preference? What is the meaning of utility? Explain them. 2. What are the two approaches of utility? Explain them with their assumptions. 3. What are total utility and marginal utility? Explain them. 4. What is the law of diminishing marginal utility? Explain it by using example
Dilla University is a public university in Dilla town, Southern Nations, Nationalities, and Peoples' Region, Ethiopia. It was founded in 1996. Located in Gedeo Zone, it has over 45,000 students belonging to different faculties.
