Explain the relation between total utility and marginal utility

1.	Explain the relation between total utility and marginal utility
Answer» <html><body><p></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/total-711110" style="font-weight:bold;" target="_blank" title="Click to know more about TOTAL">TOTAL</a> Utility means total benefit obtained by a person from consumption of goods and <a href="https://interviewquestions.tuteehub.com/tag/services-1202745" style="font-weight:bold;" target="_blank" title="Click to know more about SERVICES">SERVICES</a>. Marginal Utility means the amount of utility a person gains from the consumption of each successive unit of a commodity. When we <a href="https://interviewquestions.tuteehub.com/tag/say-1195451" style="font-weight:bold;" target="_blank" title="Click to know more about SAY">SAY</a> that the total utility is increasing at a <a href="https://interviewquestions.tuteehub.com/tag/diminishing-2044202" style="font-weight:bold;" target="_blank" title="Click to know more about DIMINISHING">DIMINISHING</a> rate, we mean that amount of change in total utility is decreasing with the consumption of every extra unit which is nothing but marginal utility. So, if marginal utility is decreasing, that means that next unit adds <a href="https://interviewquestions.tuteehub.com/tag/less-1071906" style="font-weight:bold;" target="_blank" title="Click to know more about LESS">LESS</a> utility than the previous unit.</body></html>

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