Question

Additional utility derived by a consumer from an additional unit of a commodity consumed.​

Answer 1

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

Answer 2

1. Marginal utility is the additional utility derived by a consumer from an additional unit of a commodity consumed.
2. It can be positive,zero as well as negative.
3. Mariginal utility for a good begins to decline on progressive consumption of it.
4. The formula for marginal utility is :

Change in the total utility/ Change in the number of units consumed