Question

Who determines how much utility an individual will receive from consuming a good?

Short answer

Individuals are the only ones who can assess their own utility. In general, better total utility is associated with more consumption of a good.

Step-by-step solution

Definition:

Marginal Utility

The additional amount of value you acquire for consuming an incremental unit of some good is known as marginal utility. Because value is subjective, utility is also subjective.

Explanation:

The number of units reported in customer feedback surveys is averaged by the producers to determine utility. One's own preferences determine utility. The supply and demand curves determine utility. The additional utility gained from each unit of higher consumption, on the other hand, tends to reduce in a diminishing marginal utility pattern.

Conclusion:

Therefore, individuals are the only ones who can assess their own worth. In general, better total utility is associated with more consumption of a good.