Ask Question
25 March, 21:49

The marginal utilities associated with the first 5 units of consumption of good Y are 15, 15, 10, 7, and 3, respectively. What is the total utility associated with those 5 units?

+5
Answers (1)
  1. 26 March, 00:23
    0
    Total utility is 50

    Explanation:

    Mathematically;

    TU = U1+MU2+MU3+MU4+MU5

    TU = Total utility

    U1 = utility of 1st product of good Y

    MU2 = Marginal utility of 2nd product of good Y ...

    MU5 = Marginal utility of 5th product of good Y

    Solution:

    TUy = 15+15+10+7+3

    TUy = 50.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The marginal utilities associated with the first 5 units of consumption of good Y are 15, 15, 10, 7, and 3, respectively. What is the total ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers