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0:35
YouTube
VedSquare
Utility Analysis: Marginal Utility Explained
Dive into the concept of Marginal Utility with this quick explanation! If consuming 5 units gives 20 utils of total utility, and 6 units give 22, what's the marginal utility of the sixth unit? Marginal utility is the extra satisfaction you get from consuming one more unit. In this case, the change in total utility is 22 utils - 20 utils = 2 ...
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