Marginal utility is _____
A)the total satisfaction derived from consuming a given amount of a product.
B)the addition to total satisfaction resulting from an additional unit of consumption.
C)the difference in the total satisfaction derived from the consumption of any two products.
D)the cost of consuming one more unit of a good.
E)the average satisfaction per unit of consumption.

Question

Quizplus · Accepted Answer

Marginal utility refers to the additional satisfaction gained from consuming an extra unit of a product. It is the increase in total satisfaction resulting from an additional unit of consumption, making option B the correct answer. Option A refers to total utility, Option C refers to the concept of consumer choice between products, Option D refers to marginal cost, and Option E refers to average utility.

Marginal Utility Is _____