Economics (MindTap Course List)
Solutions
Economics (MindTap Course List)
When would a good’s total utility and marginal utility be the same?
Identify the stage where the total utility becomes equal to marginal utility.
The total utility is the overall satisfaction accrued by a consumer from all the units of a commodity, whereas the marginal utility is the additional utility accruing from consuming an additional unit. Therefore, the total utility is equal to the marginal utility only at the point where the first unit of a good is consumed...
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