Total, Marginal and Average Utility Curves – SHS 2 Economics (S1 W6)
Total, Marginal and Average Utility Curves Explained for SHS 2 Economics (Sem. 1 – Week 6) Utility becomes more powerful when it is placed on a graph. Instead of simply calculating satisfaction, we can observe how satisfaction changes as consumption increases. Three curves are especially important: Total Utility (TU), Marginal Utility (MU) and Average Utility…
