-Marginal utility is the
A) average utility per unit consumed.
B) quantity of a good a consumer prefers.
C) change in total utility that results from a one-unit increase in the quantity of a good consumed.
D) total benefit from the consumption of a good or service.
E) change in total utility that results from a one dollar increase in the price of a good consumed.

Question

-Marginal utility is the
A) average utility per unit consumed. 
B) quantity of a good a consumer prefers. 
C) change in total utility that results from a one-unit increase in the quantity of a good consumed. 
D) total benefit from the consumption of a good or service. 
E) change in total utility that results from a one dollar increase in the price of a good consumed.

Quizplus · Accepted Answer

Marginal utility refers to the change in total utility a consumer experiences from consuming an additional unit of a good or service. It is not about the average utility, the quantity preferred, the total benefit, or changes in utility due to price changes.

-Marginal Utility Is the