Saturday, August 4, 2018

Marginal utility.

UTILITY:Utility is something which is called satisfactional consumptinal relationship.                         Marginal utility:Marginal utility is something which is the additional amount of satisfaction which we got from additional consumption of units.                                                                                 example:Imagine we went to super market to buy 4 chocolates then,we see all the chocolates and we will buy all chocolates in packets by this we get marginal utility due to consumption of additional utility than the normal utility.                                                                                                                  From the 4 chocolates we get the 50 units of consumption satisfaction,through marginal utility we may get slightly(70) increase in utility.
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