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Question
What Is a Marginal Utility Example?
What Is a Marginal Utility Example?
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Solution
Marginal utility is referred to the satisfaction or enjoyment that is gained from each additional item and an example can be illustrated as follows:
Suppose Ram buys a cup of coffee, and after finishing the coffee receives satisfaction. He purchases another cup of coffee. This additional unit is called marginal utility or utility which is received after a certain amount.
Also read:
- Difference Between Total Utility and Marginal Utility
- Consumer Equilibrium Utility Analysis
- Difference Between Cardinal and Ordinal Utility Study Material
- Utility
Learn about more questions and answers on business studies and various other commerce topics from our website.
Marginal utility is referred to the satisfaction or enjoyment that is gained from each additional item and an example can be illustrated as follows:
Suppose Ram buys a cup of coffee, and after finishing the coffee receives satisfaction. He purchases another cup of coffee. This additional unit is called marginal utility or utility which is received after a certain amount.
Also read:
- Difference Between Total Utility and Marginal Utility
- Consumer Equilibrium Utility Analysis
- Difference Between Cardinal and Ordinal Utility Study Material
- Utility
Learn about more questions and answers on business studies and various other commerce topics from our website.
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