Marginal utility is defined as the
A) additional utility gained by consuming an extra unit of a good.
B) total utility from all units consumed of a good.
C) total utility from all units consumed divided by the number of units consumed.
D) additional utility gained divided by the price of the good.

Question

Quizplus · Accepted Answer

Marginal utility is the additional satisfaction or usefulness that a consumer derives from consuming one more unit of a good or service. It is not the total utility or average utility. It is also not directly related to the price of the good, as indicated in option D.

Marginal Utility Is Defined as the