what do you mean by Marginal utility and Total Utility?
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Answer:
Explanation:
Marginal utility is the benefit gained from consuming one additional unit of a product or service
Total utility is the aggregate summation of satisfaction or fulfillment that a consumer receives through the consumption of goods or services
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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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