Total utility and marginal utility distinguish between
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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
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TOTAL UTILITY :-
♥ It refers to the total satisfaction obtained from the consumption of all possible units of a commodity .
♥ It increases as more consumption is done .
♥ Suffers from diminishing returns .
MARGINAL UTILITY :-
♥ It is the additional utility derived from the consumption of one more unit of the given commodity .
♥ It diminishes with an increase in total utility .
♥ It reduces with the consumption of each additional unit .
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