Marginal Utility and it's types
Marginal Utility:- Marginal utility is the additional utility or satisfaction that a consumer derives by consuming one more unit of a goods or services. Types of Marginal Utility:- There are three main types of marginal utility- 1- Positive Marginal Utility 2- Zero Marginal Utility 3- Negative Marginal Utility 1- Position Marginal Utility:- Position marginal utility is happen when consumer gets additional happiness or joy by consuming one more of an item. E.g.- A man is satisfied after drinking a glass of water but after drinking one more glass of water he gets extra satisfaction. Then, it is positive marginal utility. 2- Zero Marginal Utility:- Zero Marginal Utility is happen when consumer gets no additional satisfaction by consuming one more of an item. E.g.- A man is approximately satisfied after drinking two glasses of water and after drinking one more glass of water there is no increase in satisfaction. Then, it is zero marginal utility. 3- Negative Marginal Utility:- Negativ...