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20 March, 10:52

Marginal utility is the Group of answer choices total utility associated with the consumption of a certain number of units of a good divided by the number of units consumed change in total utility obtained by consuming one less unit of a good. sensitivity of consumer purchases of a good to changes in the price of that good. change in total utility obtained by consuming an additional unit of a good

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  1. 20 March, 11:01
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    change in total utility obtained by consuming an additional unit of a good

    Explanation:

    The utility is the level of satisfaction derived from the consumption of a good or service.

    Marginal utility obtained from the consumption of a good is the change in the total utility due to the consumption of an additional unit of that good.

    The total utility from consuming a good is maximized when the marginal utility is zero.

    In order to maximize the total utility while consuming more than one good the marginal utility obtained from the last dollar spent on each product should be equal.
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