Asked by
Kevwe Mikael
on Nov 25, 2024
Verified
When total utility is at a maximum, marginal utility is zero.
Marginal Utility
The additional satisfaction or utility that a consumer derives from consuming one more unit of a good or service.
Total Utility
The total satisfaction or benefit a consumer receives from consuming a specific quantity of goods or services.
- Acquire an understanding of the notion of marginal utility and its linkage to total utility.
Verified Answer
TS
Learning Objectives
- Acquire an understanding of the notion of marginal utility and its linkage to total utility.