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Concept Version 12
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Individuals Make Decisions at the Margins

Marginal and Total Utility

Marginal and Total Utility

Marginal utility is the amount that a certain action will change total utility. Individuals use net marginal utility to make decisions.

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    Boundless vets and curates high-quality, openly licensed content from around the Internet. This particular resource used the following sources:

    "UtilityQuantified."
    http://commons.wikimedia.org/wiki/File:UtilityQuantified.svg Wikimedia CC BY-SA.

Related Terms

  • marginal cost
  • marginal benefit
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