Marginal utility is
A) the utility received by the last consumer of a good.
B) the total utility received from consuming a given quantity of a good divided by the number of units consumed.
C) the change in total utility from consuming an additional unit of a good.
D) the utility received from consuming the first unit of a good.

Question

Quizplus · Accepted Answer

Marginal utility is defined as the change in total utility from consuming an additional unit of a good. It is not specific to the last or first consumer of the good, nor is it a simple average of the total utility received from consuming a given quantity of the good.

Marginal Utility Is