Which of the following is found by adding the marginal utility value that is gained from each additional unit that is consumed?
A)Consumer surplus
B)Elasticity
C)Proportion of income spent on a good
D)Total utility

Question

Quizplus · Accepted Answer

The total utility is found by adding the marginal utility value that is gained from each additional unit that is consumed.
Key Takeaway: You should remember that utility is simply a measure of an individual's satisfaction or well-being. Total utility is found by adding the marginal utility value that is gained from each additional unit that is consumed to the marginal utility value of the unit before it and so on, and so on.

Which of the Following Is Found by Adding the Marginal