Question

differance between total utility and marginal utlity

Answer 1

The main difference between total andmarginal utility is that total utility refers to the total satisfaction received by the consumer from consuming different units of a commodity while the marginal utility, means the additional utility derived from the consumption of the extra unit of a commodity.

Answer 2

TOTAL UTILITY :-

♥ It refers to the total satisfaction obtained from the consumption of all possible units of a commodity .

♥ It increases as more consumption is done .

♥ Suffers from diminishing returns .

MARGINAL UTILITY :-

♥ It is the additional utility derived from the consumption of one more unit of the given commodity .

♥ It diminishes with an increase in total utility .

♥ It reduces with the consumption of each additional unit .