what do you mean by marginal utility and total utility
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Answer:
Total utility is the total satisfaction received from consuming a given total quantity of a good or service, while marginal utility is the satisfaction gained from consuming an additional quantity of a particular good or service.
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Total utility refers to the total satisfaction obtained from the consumption of all possible units of a commodity .
Marginal utility is the additional utility
derived from the consumption of one
more unit of the given commodity .
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