Maharashtra State BoardHSC Arts 12th Board Exam
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Distinguish Between Marginal Utility and Total Utility. - Economics

Distinguish between  Marginal utility and Total utility.

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Solution

 Marginal utility and Total utility. 

Basis of difference Marginal utility Total utility
Meaning It is the addition to the total utility due to the consumption of an additional unit of a commodity. It is the aggregate utility derived from the consumption of all the units of a commodity.
Utility derived It is the utility derived from the additional or last unit consumed. It is the utility derived from all the units consumed.
Concept: Total Utility and Marginal Utility
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