The amount by which total utility changes when an additional unit of a good is consumed is called _____ utility.
A)average
B)additional
C)maximum
D)marginal

Question

Quizplus · Accepted Answer

Marginal utility refers to the change in total utility resulting from consuming an additional unit of a good. It is important in understanding consumer behavior and determining optimal consumption levels. Average utility is the total utility divided by the number of units consumed and maximum utility refers to the highest level of satisfaction a consumer can derive from consuming a certain quantity of goods.

The Amount by Which Total Utility Changes When an Additional