The change in satisfaction derived when an individual consumes one more unit of a good or service is called marginal utility. total utility. fixed utility. average utility.

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Business

Donte Trujillo

29 August, 05:53

The change in satisfaction derived when an individual consumes one more unit of a good or service is called marginal utility. total utility. fixed utility. average utility.

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Miller · Answer 1

Marginal utility

Explanation:

Marginal utility is the concept of the economies, which is defined as the change in the utility from consuming one more or less of the good or service.

In short, it is defined as the service and the good which varies the utility of that good or the service from increasing or rising the consumption by the customer or individual.

So, the change in the satisfaction which is derived when the consumer consumes one more unit of the good and service is recognizes as the marginal utility.