Total utility is the aggregate satisfaction that a consumer receives through the consumption of a goods or services. Total utility is often compared to marginal utility, which is the satisfaction ...

In this case, the total monetary utility for the purchases are $50, $90 and $120. In turn, the marginal utility is the difference between one utility and the next.

If you're selling hot dogs for $2, then any customer who thinks a hot dog provides more than $2 worth of utility is getting a bargain. There will be some who would be willing to pay $2.25, others ...