Differentiate “total utility’ and ‘marginal utility’. – InterviewSolution

1.

Differentiate “total utility’ and ‘marginal utility’.

Answer»

Total Utility	Marginal Utility
(i)It is the aggregate utility derived by the consumer by consuming all the units.	(i)It is the additional utility derived by the consumer by consuming an additional unit
(ii)It represents utility of all the units consumed.	(ii)It represents the utility of single unit.
(iii)It may be symbolically written as TU=U₁+U₂+U₃+U₄………..Un.	(iii)It may be written as MU=TU_{n –}TU_n-1

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