The amount of satisfaction obtained from the consumption of a commodity at a particular time is called

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The amount of satisfaction obtained from the consumption of a commodity at a particular time is called total utility. Total utility refers to the total amount of satisfaction or pleasure that a consumer derives from the consumption of a certain amount of a commodity. For example, if a person drinks two cups of coffee, the total utility they derive from the coffee is the combined satisfaction they get from both cups. Marginal utility, on the other hand, refers to the additional satisfaction that a consumer gets from consuming one more unit of a commodity. Diminishing returns occurs when the marginal utility of a commodity starts to decrease as the consumer consumes more of it. Average utility is the total utility divided by the quantity consumed, and it represents the average level of satisfaction per unit of the commodity consumed. However, total utility is the overall level of satisfaction derived from the consumption of a particular quantity of a commodity.