Distinguish the difference between (a) Total utility (b) Marginal utility

      

Distinguish the difference between (a) Total utility (b) Marginal utility

  

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KevinNyabute
(a) Total utility - refers to the total satisfaction a consumer gets from the consumption of one unit of a product while consumption of other products remain constant.

(b) Marginal utility - refers to the satisfaction a consumer derives from the consumption of one more unit of a product while the consumption of other products remain constant.
kevinnyabute answered the question on February 14, 2018 at 08:01


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