Question

If a consumer uses 4 units of a commodity then his total utility is 10 and if he uses 5 units of that commodity then his total utility is 14 then what will be the marginal utility?​

Answer 1

Answer:

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Answer 2

Answer:

The marginal utility of the consumer will be 4 units.

Explanation:

• The additional pleasure a consumer has from owning one extra unit of an item or service is known as marginal utility.
• Economists utilise the idea of marginal utility to estimate the quantity of a good that consumers will buy.
• The general rule in economics is that marginal utility equals total utility change divided by change in quantity of goods.
• The equation looks like this: Total utility difference divided by amount of commodities difference equals marginal utility.
• While marginal utility is the satisfaction obtained by eating an additional amount of an item, total utility is the entire satisfaction attained from consuming a certain total quantity of that good or service.

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