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in Economics by (35 points)
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Write a difference between total utility and marginal utility 

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Total utility:

  • It is the aggregate of satisfaction that a consumer derives from the consumption of any particular goods or services.
  • Total utility rises as more consumption is done.
  • It suffers from diminishing returns.

Marginal utility:

  • It is the amount of satisfaction derived by a consumer by additional consumption of a unit of any particular goods or services.
  • Marginal utility diminishes with an increase in total utility.
  • Marginal utility reduces with the consumption of each additional unit.

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