EXTRA utility (or satisfaction) from consuming an additional unit of a product. Total utility is the total satisfaction from the consumption of the product. According to the Law of DIMINISHING Marginal Utility, total utility increases at a diminishing RATE. When marginal utility is 0 this means there is no increase in total satisfaction from the consumption of that unit. So the total unit is at MAXIMUM.

"> EXTRA utility (or satisfaction) from consuming an additional unit of a product. Total utility is the total satisfaction from the consumption of the product. According to the Law of DIMINISHING Marginal Utility, total utility increases at a diminishing RATE. When marginal utility is 0 this means there is no increase in total satisfaction from the consumption of that unit. So the total unit is at MAXIMUM.

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When marginal utility is zero, the total utility is

Economics Economics miscellaneous in Economics 5 months ago

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Marginal utility measures the EXTRA utility (or satisfaction) from consuming an additional unit of a product. Total utility is the total satisfaction from the consumption of the product. According to the Law of DIMINISHING Marginal Utility, total utility increases at a diminishing RATE. When marginal utility is 0 this means there is no increase in total satisfaction from the consumption of that unit. So the total unit is at MAXIMUM.

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Posted on 06 Jun 2025, this text provides information on Economics related to Economics miscellaneous in Economics. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.

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