what is the diference between total utility and marginal utility
Total utility refers to the overall satisfaction or pleasure an individual derives from consuming a certain quantity of a good or service. It represents the cumulative sum of all the utilities obtained from each unit of the good consumed.
On the other hand, marginal utility refers to the additional utility or satisfaction gained from consuming one more unit of a good. It measures the change in total utility as a result of consuming an additional unit.
In simpler terms, total utility tells us the overall level of satisfaction from consuming a certain quantity of a good, while marginal utility tells us the additional satisfaction gained from consuming one more unit of that good.