The meaning of "Marginal Utility stands for
(A)Utility received from the last unit of consumption of commodity
(B)Total Utility - Average Utility
(C) Total Utility No of commodity consumed
(D)None of the above
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Marginal utility, in economics, the additional satisfaction or benefit (utility) that a consumer derives from buying an additional unit of a commodity or service...
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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.
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