For example, drinking a second cup of coffee in the morning might boost energy even more. Zero marginal utility Consuming another unit provides no additional satisfaction.

Total utility measures the satisfaction or benefits a person gets from the total consumption—including marginal utility—of a product or service.

The Law of Diminishing Marginal Utility It is one of the basic principles taught to students studying economics. Introduced by Lord Alfred Marshall, it forms a crux in the micro-economic level ...

Total utility is often compared to marginal utility, which is the satisfaction a consumer receives from consuming one additional unit of a good or service. Total utility helps economists ...