Question

what is utility and marginal utility ​

Answer 1

• In economics, utility is the satisfaction or benefit derived by consuming a product; thus the marginal utility of a good or service is the change in the utility from an increase in the consumption of that good or service.

Answer 2

♥ Utility - It refers to the want satisfying power of a commodity .

♥ Marginal utility - It's the additional utility derived from the consumption of one more unit of the given commodity .