Question

What is true of the marginal utility per dollar spent on a stomach pacemaker compared with the marginal utility per dollar of food consumed during that interval?

Short answer

The standard rule is that marginal utility equals the change in total utility divided by the change in quantity of goods.

Step-by-step solution

Introduction.

The added satisfaction that comes from having one more unit of a good or service is known as marginal utility. Economists use the concept of marginal utility to determine how much of a product consumers are willing to buy.

Marginal utility per dollar.

To calculate the change in total utility, subtract the current total utility from the previous total utility. The change in units is calculated by subtracting the current unit amount from the previous unit amount.