Marginal utility is the
A)sensitivity of consumer purchases of a good to changes in the price of that good.
B)change in total utility obtained by consuming one more unit of a good.
C)change in total utility obtained by consuming another unit of a good divided by the change in the price of that good.
D)total utility associated with the consumption of a certain number of units of a good divided by the number of units consumed.

Question

Quizplus · Accepted Answer

Marginal utility refers to the change in total utility that a consumer experiences as a result of consuming one additional unit of a good. It measures the additional satisfaction or benefit that a consumer derives from consuming an extra unit of a good.

Marginal Utility Is the