Marginal utility:
A) is the change in a consumer's utility resulting from the addition of a very small amount of some good.
B) is the total utility a resulting from consuming some good, divided by the amount consumed.
C) is the change in a consumer's utility resulting from the addition of a very small amount of some good, divided by the amount added.
D) is the change in a consumer's utility resulting from the addition of a very small amount of some good, divided by the total amount being consumed.

Question

Quizplus · Accepted Answer

Marginal utility is defined as the change in the total utility resulting from consuming an additional unit of a good. Therefore, it is the change in utility resulting from the addition of a very small amount, divided by the amount added, which is the definition given in choice C.

Marginal Utility