Marginal utility is defined as the
A)average amount of satisfaction gained from consuming a product
B)total amount of satisfaction gained from consuming a product
C)additional satisfaction gained from consuming one more unit of a product
D)total amount of satisfaction gained from consuming a product divided by the number of units consumed
E)total amount of satisfaction gained from consuming a product times the number of units consumed

Question

Quizplus · Accepted Answer

Marginal utility refers to the additional satisfaction gained from consuming one more unit of a product. Option A defines average utility, option B defines total utility, option D calculates average utility, and option E calculates total utility multiplied by the quantity consumed, which is not the same as marginal utility.

Marginal Utility Is Defined as the