Question

Define total utility. How is marginal utility derived from total utility?

Answer 1

__________HEY MATE___________

TOTAL UTILITY IS THE SUM TOTAL OF UTILITY DERIVED FROM THE CONSUMPTION OF ALL UNITS OF A COMMODITY.

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MUnth =TUn - TUn-1

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Marginal Utility Of nth unit of a commodity =. Total Utility from (n-1) units.

HOPE THIS HELPS YOU ☺️

Answer 2

Hey dear,

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.