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| 1. |
Define marginal utility. |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :In <a href="https://interviewquestions.tuteehub.com/tag/economics-260" style="font-weight:bold;" target="_blank" title="Click to know more about ECONOMICS">ECONOMICS</a>, <a href="https://interviewquestions.tuteehub.com/tag/utility-1441817" style="font-weight:bold;" target="_blank" title="Click to know more about UTILITY">UTILITY</a> is the satisfaction or benefit <a href="https://interviewquestions.tuteehub.com/tag/derived-437539" style="font-weight:bold;" target="_blank" title="Click to know more about DERIVED">DERIVED</a> by consuming a product; thus the marginal utility of a goods or <a href="https://interviewquestions.tuteehub.com/tag/service-1202537" style="font-weight:bold;" target="_blank" title="Click to know more about SERVICE">SERVICE</a> is the change in the utility from an increase in the consumption of that good or service</body></html> | |