What is marginal utility?
A)The change in total utility divided by the price of the last unit of a good or service consumed.
B)The change in total utility a person receives from consuming an additional unit of a good or service.
C)The utility from consuming a given quantity of a good or service.
D)The decrease in total utility from consuming more and more units of a good or service.

Question

Quizplus · Accepted Answer

Marginal utility refers to the additional utility or satisfaction gained by consuming one more unit of a good or service. It is the change in total utility resulting from consuming an additional unit of a good or service.

What Is Marginal Utility