Question

what is marginal utility when consumption increases from 6 units to 7 units​

Answer 1

Answer:

2000

Explanation:

Answer 2

Answer:

PART OF

Practical Look At Microeconomics

ECONOMICS MICROECONOMICS

Marginal Utility

By ANDREW BLOOMENTHAL

Updated Jan 8, 2021

What Is Marginal Utility?

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.

Positive marginal utility occurs when the consumption of an additional item increases the total utility. On the other hand, negative marginal utility occurs when the consumption of one more unit decreases the overall utility.

KEY TAKEAWAYS

Marginal utility is the added satisfaction 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.

The law of diminishing marginal utility is often used to justify progressive taxes.

Marginal utility can be pos