Question

State With Reason Whether You Agree or Disagree

Answer 1

I disagree with this statement that marginal and total utility are the same. The following is an explanation for the same:

Total utility and marginal utility are not the same, but they are different. Total utility is referred to as the total satisfaction that is obtained from the consumption of the total units of a commodity.

Whereas, marginal utility is defined as the additional utility that is derived from the consumption of a unit of the given commodity. It is known as the utility that is obtained from the last unit of purchase of a commodity.

Also read:

• Difference Between Total Utility and Marginal Utility
• Consumer Equilibrium Utility Analysis
• Difference Between Cardinal and Ordinal Utility Study Material
• Utility

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