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29 December, 19:03

Marginal utility is equal to which of the following? (A) total income divided by the price of the product (B) the change in total utility from consuming one more unit of a good (C) the satisfaction obtained from consuming any number of units of a good (D) total utility divided by the number of units of the good

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  1. 29 December, 19:11
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    Answer: B - the change in total utility from consuming one more unit of a good

    Explanation: Marginal utility is the change in utility that arises from consuming one more unit of a good or service.

    Utility is the total satisfaction that occurs from consuming a commodity or service.

    Average utility is total utility divided by the number of goods consumed.
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