Explore BrainMass

Filling in blanks for total and marginal utility

Total utility and marginal utility


Solution Preview

Hi There,
<br>Please see the following attached Word Document.
<br>Also, here is some additional info regarding marginal utility:
<br>marginal utility: The additional utility, or satisfaction of wants and needs, obtained from the consumption or use of an additional unit of a good. It is specified as the change in total utility divided by the change in quantity. Marginal utility indicates what each additional unit of a good is worth to a consumer.
<br>utility: The satisfaction of wants ...

Solution Summary

This problem involves the fundamentals of Microeconomics