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OpenStudy (anonymous):
IS UTILITY THE SAME AS MARGINAL UTILITY?
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OpenStudy (anonymous):
no,they are different things.utility is whole benefits from consuming good or service.when you consume one more unit you have marginal utility. for example: if shops sell 100 bread and gets profit(utility) 200#, and decided to sell 101 and profit(utility) will be 202# then we can say that marginal utility is 202-200=2, total utility is 202.
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