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Class 11th Understanding Marginal Utility

 
Marginal utility is the extra satisfaction or happiness gained from consuming one more unit of a product or service. It's like the bonus joy you get from having a little bit more of something.

Example:

Imagine you're enjoying a delicious slice of pizza. The first bite is amazing, and you're really satisfied. Now, when you take the second bite, you still enjoy it, but maybe not as much as the first one – that's the marginal utility. It's the additional happiness you get from that second bite. As you keep eating, each bite adds a bit less extra happiness, until you might even start feeling full, and the joy from each additional bite becomes smaller and smaller. So, marginal utility helps you decide when to stop eating or consuming because the extra happiness from each bite or unit starts to decrease.

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