Question

Marginal utility is the change in total utility obtained by consuming one more unit of a good. B) change in total utility obtained by consuming another unit of a good divided by the change in the price of that good. C) sensitivity of consumer purchases of a good to changes in the price of that good. D) total utility associated with the consumption of a certain number of units of a good divided by the number of units consumed.

Answer 1

Marginal utility is the change in total utility obtained by consuming one more unit of a good.

Step-by-step explanation:

Marginal utility quantifies the added satisfaction that a consumer garners from consuming additional units of goods or services. The concept of marginal utility is used by economists to determine how much of an item consumers are willing to purchase.