Marginal utility is the:

A. extra satisfaction received from consuming one more unit of a product.

B. total satisfaction received from consuming a given number of units of a product.

C. average satisfaction received from consuming a product.

D. satisfaction achieved when a consumer has had enough of a product.

Question

Business

Rogelio Burton

21 December, 00:41

Marginal utility is the:

A. extra satisfaction received from consuming one more unit of a product.

B. total satisfaction received from consuming a given number of units of a product.

C. average satisfaction received from consuming a product.

D. satisfaction achieved when a consumer has had enough of a product.

+4

Answers (1)

Know the Answer?

Kallie Mack · Answer 1

The correct answer is A. extra satisfaction received from consuming one more unit of a product.

Explanation:

The marginal utility is the utility that we obtain for the consumption of an additional unit of a good or service.

The marginal utility (UM) refers to the concept of "additional" or "extra", it is the utility that is added or added when we consume a unit more than a good or service.

It depends on consumer preferences, which are not always known. However, regardless of its form or level, economists usually agree that it is generally true that as the consumption of an additional unit increases, the profit we obtain is falling. This phenomenon was reflected in the so-called "law of diminishing marginal utility".