search
arrow-left Previous
Next arrow-right
Q: ________ means the additional satisfaction or benefit (utility) that a consumer derives from buying an additional unit of a commodity or service.
  • A. Consumer Demand
  • B. Total Utility
  • C. Marginal Utility
  • D. Equilibrium
Correct Answer: Option C - Marginal Utility (MU), in economics is the additional satisfaction or benefit (Utility) that a consumer derives from buying an additional unit of a commodity or service. The concept of Marginal utility is used by economists to determine how much of an item consumers are willing to purchase.
C. Marginal Utility (MU), in economics is the additional satisfaction or benefit (Utility) that a consumer derives from buying an additional unit of a commodity or service. The concept of Marginal utility is used by economists to determine how much of an item consumers are willing to purchase.

Explanations:

Marginal Utility (MU), in economics is the additional satisfaction or benefit (Utility) that a consumer derives from buying an additional unit of a commodity or service. The concept of Marginal utility is used by economists to determine how much of an item consumers are willing to purchase.