ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the satisfaction from consumption
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to total satisfaction from consuming a product
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the extra satisfaction from the last unit consumed
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the extra consumption from last unit consumed
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Detailed explanation-1: -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.
Detailed explanation-2: -marginal utility, in economics, the additional satisfaction or benefit (utility) that a consumer derives from buying an additional unit of a commodity or service.
Detailed explanation-3: -Marginal Utility is the measurement of satisfaction level of a consumer which he gains from the use of successive units of commodity. Marginal Utility derives its value from the consumption of last unit.
Detailed explanation-4: -1. Marginal utility of the fourth unit is 44. 2. The addition of 6th unit has the greatest marginal utility i.e, 102 utils.
Detailed explanation-5: -In economics, utility is the satisfaction or benefit derived by consuming a product. The marginal utility of a good or service describes how much pleasure or satisfaction is gained or lost by consumers as a result of the increase or decrease in consumption by one unit.