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Marginal Utility
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and Total Utility
Marginal Utility Calculation
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Wealth PMU
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Marginal Utility
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How to Calculate Utility Allowance
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Economics
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How to Calculate
Marginal Utility
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2:59
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Utility Maximisation
With a single product, total utility is maximised when the marginal utility from the next unit consumed is zero (assuming that the budget of the consumer allows this point to be reached.) When multiple products are being chosen, the condition for maximising utility is that a consumer equalises the marginal utility per pound spent. The condition ...
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