What is the correct expression for marginal utility?
A)It is equal to total utility divided by quantity consumed.
B)It is the change in total utility resulting from a change in the quantity consumed.
C)It is equal to total utility divided by the quantity demanded.
D)It is equal to the additional utility divided by the quantity consumed.

Question

Quizplus · Accepted Answer

Marginal utility is the change in total utility resulting from a change in the quantity consumed. Option A is incorrect because total utility is not divided by quantity consumed to get marginal utility, rather it is the change in total utility that is considered. Option C is incorrect because marginal utility is not divided by quantity demanded. Option D is incorrect because the term "additional utility" is not commonly used in the definition of marginal utility, instead it is the change in total utility that is considered.

What Is the Correct Expression for Marginal Utility