Marginal utility can be thought of as
A) the incremental change in a person's total satisfaction level from the consumption of a good.
B) the total change in satisfaction from buying a good.
C) the additional cost of that next good purchased.
D) the opportunity cost of buying the next good.

Question

Quizplus · Accepted Answer

Marginal utility refers to the additional satisfaction or utility gained from consuming one additional unit of a good or service. It is the incremental change in total satisfaction from the consumption of that good, and therefore is best represented by choice A. Choice B incorrectly suggests that marginal utility is the total change in satisfaction from buying a good, which is not necessarily the case as the marginal utility of the last unit consumed may be negative. Choices C and D refer to other economic concepts, but are not directly related to the definition of marginal utility.

Marginal Utility Can Be Thought of as