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28 November, 13:26

Total utility:

is the change in total satisfaction derived from consuming one more unit of a good.

is the change in marginal satisfaction derived from consuming one more unit of a good.

decreases with the consumption of each additional good.

is the total satisfaction derived from the consumption of given quantity of a good.

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  1. 28 November, 14:54
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    The answer is: is the total satisfaction derived from the consumption of given quantity of a good.

    Explanation:

    Utility is the value or satisfaction received form consuming a product or service.

    Total utility is the total satisfaction received from consuming a given amount of units of a product or service.

    While marginal utility is the satisfaction we receive from consuming an additional unit of a product or service.
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