The utility from an extra unit of consumption is called _______ utility.

additional

No worries! We‘ve got your back. Try BYJU‘S free classes today!

total

No worries! We‘ve got your back. Try BYJU‘S free classes today!

marginal

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

knowledge

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C marginal
Marginal Utility derives its value from the consumption of extra unit. It is the satisfaction level of a consumer which he gains from the use of successive units of commodity. In simple words the utility derived from an extra unit of consumption is called Marginal Utility.

Suggest Corrections

Similar questions

When a commodity gives utility for a long period of time, it is called __________ consumption

Join BYJU'S Learning Program