HOW MARGINAL UTILITY AFFECT CONSUMER CHOICE

In this article I learned that consumer has lot of choices to make and when they finally choice a particular product or item they tend to measure in terms of margin which is called utility. Based on the margin we get to know that after consuming each product what utility we are getting from it which is called total utility. Most of the items follow diminshing marginal utility which is correct as it based on our consumption as each item brings less utility has we keep having them. Finally I could say choices are also based on prices which means at what price I am able to get a certain level of satisfaction.

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