Define Total utility
Answers
Total utility is the aggregate level of satisfaction or fulfillment that a consumer receives through the consumption of a specific good or service. Each individual unit of a good or service has its own marginal utility, and the total utility is simply the sum of all the marginal utilities of the individual units.Aug 2, 2018
Total utility of the consumers means the total satisfaction of consumer after using or consuming certain goods or services over a given period of time.
This concept of total utility is used in order to measure the preferences and liking of the consumers in the market. It is different from marginal utility because in marginal utility the resources or the goods or services are used in additional quantity and the satisfaction of consumers is measured from that only.