Answer to Question #183321 in Microeconomics for Rahul

Question #183321

Explain marginal utility and demand.


1
Expert's answer
2021-04-26T07:30:54-0400

Marginal utility of a good or service is a measure a measure of utility due to an increase in customer consumption of a good or a service.

Demand on the other hand is the quantity of goods and services consumers are willing to buy at a given price.


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