Question

Give economic term The additional utility derived from the consumption of an additional (last) unit of a

commodity​

Answer 1

Answer:

Marginal utility is the addition to the total utility, due to the consumption of an additional unit of a commodity. In other words, it can be defined as the utility derived from the last unit of the commodity consumed.

Answer 2

The additional utility derived from the consumption of an additional (last) unit of a commodity​  is known as marginal utility.

• It can be positive, zero as well as negative
• Positive utility also diminishes as more and more units of a commodity are consumed
• when over consumption takes place the utility can become negative as well