Answer :
The extra satisfaction a person obtains from consuming one more unit of a good or service is called Marginal utility.
The additional satisfaction a customer has from owning one extra unit of an item or service is known as marginal utility. Economists utilise the idea of marginal utility to estimate the quantity of a good that customers will buy.
The concept of marginal utility is helpful in describing how customers choose products and services to maximise their financial resources. In general, as long as the marginal benefit exceeds the marginal cost, consumers will keep consuming more of a thing.
Price and marginal cost are identical in an efficient market. Because of this, individuals continue to consume more until the cost of the good equals the marginal benefit of consumption.
The question is incomplete. The complete question is:
The extra satisfaction a person obtains from consuming one more unit of a good or service is called ___.
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