Explain the relationship between TU &MU?
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Posted by Mayank Kumar 5 years, 10 months ago
- 2 answers
Yogita Ingle 5 years, 10 months ago
UTILITY - Utility refers to the amount of satisfaction derived from the consumption of the unit of the product.
TOTAL UTILITY - Total utility refers to the total amount of satisfaction obtained from the consumption of number of products.
MARGINAL UTILITY - Marginal utility is the amount of satisfaction which is derived from the consumption of every additional unit.
Difference between Total Utility and Marginal Utility.
when TU decrease, MU increases.
when TU becomes zero, MU become stagnant.
when TU becomes negative, MU falls.
Total utility talks about the whole other hand's marginal utility talk about the single unit.
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Aakansha Pandey 5 years, 10 months ago
2Thank You