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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?

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imustapha180

Answer:

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.

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