Question

statements related to marginal utility. Marginal utility is the sum of utility obtained from all units Marginal utility is the utility obtained from the additional un of consumption Marginal utility can be zero. Marginal utility can be measured cordinally otions : 1) a, b&c 2) b&c 3) b.c&d ​

Answer 1

BY NAVEEN

What Is Marginal Utility?

Marginal utility is the added satisfaction that a consumer gets from having one more unit of a good or service. The concept of marginal utility is used by economists to determine how much of an item consumers are willing to purchase.

Positive marginal utility occurs when the consumption of an additional item increases the total utility. On the other hand, negative marginal utility occurs when the consumption of one more unit decreases the overall utility.

KEY TAKEAWAYS

Marginal utility is the added satisfaction a consumer gets from having one more unit of a good or service.

The concept of marginal utility is used by economists to determine how much of an item consumers are willing to purchase.

The law of diminishing marginal utility is often used to justify progressive taxes.

Marginal utility can be positive, zero, or negative

Explanation:

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