Economy, asked by shrutipr19, 3 months ago

What is the relationship between utility and marginal utility ? ​

Answers

Answered by vachanpadival
2

Answer:

Utility or total utility (TU) refers to the amount of total satisfaction a person gets from the consumption of a certain item. Marginal Utility (MU) refers to the extra utility a consumer gets from one additional unit of a specific product.

Answered by deyonaminnu
1

Answer:

TU - The amount of total satisfaction a person gets from consumption of some

       items.  

MU - The extra utility a consumer gets from one additional unit of a specific

        product.          

Explanation:

Utility or total utility (TU) refers to the amount of total satisfaction a person gets from consumption of a certain item. Marginal Utility (MU) refers to the extra utility a consumer gets from one additional unit of a specific product.

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