Total & Marginal Utility Explained | How the Law of Diminishing MU Affects Demand

What are Total Utility & Marginal Utility? These fundamental microeconomics concepts shape consumer behavior and influence every purchasing decision we make.

In this video, we explore:
✔ The relationship between Total Utility (TU) & Marginal Utility (MU)
✔ How to derive TU & MU schedules and draw their curves
✔ The Law of Diminishing Marginal Utility – Why demand curves slope downward
✔ Real-world applications of utility theory in economics & daily decision-making

🔍 What You’ll Learn in This Video:
✅ Concept of Utility: Understanding consumer satisfaction (0:00 - 2:13)
✅ Derivation of TU & MU Schedule: Step-by-step explanation (2:14 - 4:13)
✅ Graphing TU & MU Curves: How they relate (4:14 - 7:43)
✅ Law of Diminishing Marginal Utility: Key insights (7:44 - 8:17)
✅ Significance of the Law of Diminishing MU: Why it matters (8:18 - 8:42)
✅ Conclusion & Key Takeaways: Reinforce your learning (8:43 - End)

📢 Why Watch This Video?
✔ Essential for Exam Prep – Covers core concepts for AP, IB, CBSE, IGCSE, ICSE, and university economics
✔ Clear & Engaging Explanations – Learn how and why consumers behave the way they do
✔ Real-World Relevance – Whether you’re a student, business professional, or just curious about decision-making, this video is for you!

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