What is marginal utility when you go to some relative home and offered by food? How you will appply marginal utility here?
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To calculate the marginal utility of something, just divide the change in total utility by the change in the number of goods consumed. In other words, divide the difference in total utility by the difference in units to find marginal utility.
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Explanation:
Marginal utility is the additional utility derived from the consumption of an additional unit of the commodity. When offered food by a relative, the marginal utility is the total utility derived from the food.
When an extra unit is consumed, the utility derived from that extra unit is the marginal utility at that point. Marginal utility decreases with increase in consumption.
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