Question

distinguish between total utility and marginal utility​

Answer 1

• It is the aggregate of satisfaction or utility that a consumer derives from the consumption of multiple units of a specific commodity. Marginal utility meaning, the change in the total utility of a commodity due to the consumption of an additional unit of a commodity.

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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 .