Total utility and marginal utility distinguish between class 12?

Question: Total utility and marginal utility distinguish between class 12?

Total utility and marginal utility are two important concepts in microeconomics. Total utility is the total satisfaction that a consumer derives from consuming a given amount of a good or service. Marginal utility is the additional satisfaction that a consumer derives from consuming one more unit of a good or service. Distinguishing between total utility and marginal utility can help us understand how consumers make choices and how they respond to changes in prices, income, and preferences.

Disclaimer

All information provided on this site is generated by artificial intelligence. If you find any content objectionable or have concerns about the information provided, please feel free to comment or contact us directly.

Rjwala

Rjwala is your freely Ai Social Learning Platform. here our team solve your academic problems daily.