DiminishingMarginal Utility. Diminishing marginal utility refers to the phenomenon that each additional unit of gain leads to an ever-smaller increase in subjective value. For example, three bites of candy are better than two bites, but the twentieth bite does not add much to the experience beyond the nineteenth (and could even make it worse). Utility The total utility is the total amount of satisfaction received by the consumer from the consumption of goods and services. Marginal Utility is the additional utility derived form an additional unit of consumption of good. ExpertAnswer. Q) marginal utility of the second unit is answer-option b) 6 The given table shows total utility and marginal utility schedule. From the given table we can see that when 2nd unit is consumed, marginal utility is given to be 6 . Option a is inc . Rons marginal utility from the first salad is units. if the price of a salad is $2, then the marginal utility per dollar for salads when Ron buys 1 salad is units per dollar. Ron's marginal utility from the fourth sandwich is units. If the price of a sandwich is $5, then the marginal utility per dollar for sandwiches when Ron buys 4 sandwiches Marginalutility, then, is the change in total utility from consuming one more or one less of an item. For example, the marginal utility of a third slice of pizza is the change in satisfaction one gets when eating the third slice instead of stopping with two. ReviewQuiz Unit 1-3. Assume a consumer is spending all her income on two goods: X and Y. At the current consumption combination of the two goods, if the marginal utility per dollar spent on the last unit of good X exceeds that of the marginal utility per dollar spent on the last unit of good Y, what should the consumer do to maximize utility? .

what is total utility and marginal utility