Question

what is marginal utility

Answer 1

Marginal utility is the additional satisfaction a consumer gains from consuming one more unit of a good or service. Marginal utility is an important economic concept because economists use it to determine how much of an item a consumer will buy. A positive marginal utility is when the consumption of an additional item increases the total utility. A negative marginal utility is when the consumption of an additional item decreases the total utility.

Answer 2

Marginal utility refers to the benefits gained from consuming one additional unit of a product or service....
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