At quantity 1 total utility is 20 At quantity 2 total utilit

At quantity 1 total utility is 20

At quantity 2 total utility is 36

At quantity 3 total utility is 51

At quantity 4 total utility is 55

What is the marginal utility at

quantity 1? and at quantity 4?

20; 55

4; 20

4; 24

20; 4

20; 162

a.

20; 55

b.

4; 20

c.

4; 24

d.

20; 4

e.

20; 162

Solution

At quantity 1, the marginal utility is the same as the total utility that is 20.

At quantity 4, marginal utilitity = Total utility at unit 4 - total utility at unit 3 = 55 - 51 = 4

Thus, correct choice is d. 20;4

At quantity 1 total utility is 20 At quantity 2 total utility is 36 At quantity 3 total utility is 51 At quantity 4 total utility is 55 What is the marginal uti

Get Help Now

Submit a Take Down Notice

Tutor
Tutor: Dr Jack
Most rated tutor on our site