Question

Distinguish between Total utility and Marginal utility

Answer 1

The main difference between total and marginal 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,connotes the additional utility derived from the consumption of the extra unit of a commodity.

Answer 2

Total utility and marginal utility both are about the satisfaction of customer after consuming a product. But there is little difference between them.

Total utility:

If the customer gets full satisfaction by consuming some units of commodity then it is known as total utility.

Marginal Utility:

If the customer gets full satisfaction by consuming an extra unit of commodity then it is known as marginal utility.