Marginal utility is
A)The sum of the total utility of consuming a certain amount of a good.
B)The additional utility a consumer enjoys from the consumption of one more unit of a good.
C)The diminishing nature of total utility.

Question

Quizplus · Accepted Answer

Marginal utility is the additional utility or satisfaction that a consumer gets from consuming one more unit of a good. It is the change in total utility when consumption increases by one unit. Marginal utility is important to determine how much of a good a rational consumer will consume and at what price.

Marginal Utility Is