State With Reason Whether You Agree or Disagree

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:

Learn about more questions and answers on business studies and various other commerce topics from our website.

Was this answer helpful?

 
   

0 (0)

(0)
(0)

Choose An Option That Best Describes Your Problem

Thank you. Your Feedback will Help us Serve you better.

Leave a Comment

Your Mobile number and Email id will not be published. Required fields are marked *

*

*

BOOK

Free Class

Ask
Question