Total utility is defined as the
A)change in marginal utility a person derives from the consumption of a good.
B)change in total utility a person derives from the consumption of a good divided by the price of that good.
C)change in total utility a person derives from the consumption of a good divided by the change in the consumption of that good.
D)sum of the amounts of satisfaction a person receives from consuming a good.
E)change in total utility a person derives from the consumption of a good.

Question

Quizplus · Accepted Answer

Total utility refers to the total amount of satisfaction or pleasure a person derives from consuming a certain amount of a good or service. It is not about the change in utility (as options A, B, C, and E suggest), but rather the aggregate satisfaction from consumption.

Total Utility Is Defined as the