Marginal utility and total utility are, respectively:
A) the satisfaction from the least-liked good consumed, and the satisfaction from all the goods consumed.
B) the satisfaction one person gets, and the satisfaction all people get from consuming a particular amount of a good.
C) the satisfaction from consuming one type of good, and the satisfaction from consuming several different types of goods.
D) the change in total satisfaction from consuming one more unit of a good, and the total satisfaction from consuming a particular amount of a good.

Question

Quizplus · Accepted Answer

Marginal utility refers to the change in total satisfaction or utility that a consumer experiences as a result of consuming one additional unit of a good or service. Total utility, on the other hand, is the total amount of satisfaction or pleasure a person derives from consuming a certain quantity of goods or services.

Marginal Utility and Total Utility Are, Respectively