# Define Or Explain the Following Concept : Marginal Utility. - Economics

#### Question

Define or explain the following concept :

Marginal utility.

#### Solution

It refers to the additional utility derived by a consumer from additional unit of a commodity consumed. It is the utility derived from the last unit of a commodity. In short, MU is the addition made by last unit to TU. MU_n = TU_n -TU_((n-1))

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#### APPEARS IN

2017-2018 (March) (with solutions)
Question 2.1.2 | 2.00 marks

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Define Or Explain the Following Concept : Marginal Utility. Concept: Diminishing Marginal Utility.
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