Question

What is the difference between total and marginal utility ?

Answer 1

The difference between total and marginal utility is that total utility refers to the total amount of satisfaction that a consumer receives on the consumption of a good or service.

While the marginal utility is referred to as the satisfaction that is derived from consuming additional units of the product or the service.

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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