Finally, assume that the owner of the shop is new in town and so she is not able to distinguish among the two groups; she can only set a single price for everyone. Compute the total market demand the supplier is facing (quantity as function of the price; remember, here the two different groups have different price intercepts). Then, compute the marginal revenue as function of the total quantity and the optimal quantity and price set by the monopolist. Are customers from both groups buying the goods

What is the difference between total utility and marginal utility? a. marginal utility is subject to the law of diminishing marginal utility while total utility is not. b. total utility represents the consumer optimum while marginal utility gives the total utility per dollar spent on the last unit. c. total utility is the total amount of satisfaction derived from consuming a certain amount of a good while marginal utility is the additional satisfaction gained from consuming an additional unit of the good. d. marginal utility represents the consumer optimum while total utility gives the total utility per dollar spent on the last unit.