Total utility refers to the summation of all additional or marginal utility derived from every extra unit of consumption. Therefore, if a consumer wants to calculate the total utility obtained from a given product, then he should add up all the marginal utilities till the last unit of consumption.

Calculate total utility for each unit of consumption of commodity - X. View Solution. Q2. Suppose, price ...

Calculate total utility for each unit of consumption of commodity - X. View Solution. Q2 (2 1/2 * 3 1/3 ...

The total utility (T U) from 9 units of commodity ... Calculate the marginal utility from 10 t h unit ...

We know, Marginal Utility= total utility of the n th unit - total utility of the (n-1 )th unit Thus , marginal utility derived from the consumption of 2 nd unit= total utility of the 2nd unit - total utility derived from the 1st unit = 18 - 10 = 8

Given the total cost function for x units of a commodity as: C (x) = 1 3 x 3 + 3 x 2 − 16 x + 2. Find Marginal cost function. Find Marginal cost function. View Solution

Click here👆to get an answer to your question ️ The marginal utility from the consumption of commodity - X is given in following table:Units of X 1 2 3 4 5 MUx 10 ...

A consumer gets 50 utils of utility from the consumption of 1 s t unit of commodity - X. On the assumption that for every additional unit of X, he loses 10 utils of utility, how much unit (s) of X will he consume if, it was available to him at price of R s. 5 …

A consumer consumes only two goods X and Y whose prices are Rs. 2 and Rs. 1 per unit respectively. If the consumer chooses a combination of the two goods with marginal utility of X being 4 and that of Y being 4, is the consumer in equilibrium? Give reasons. Explain what a rational consumer would do in this situation. Use marginal utility analysis.

Calculate the marginal opportunity cost (MOC) of commodity A for the commodity 4 for they megi Example 3. Calculate the combinations: Exam Commodity A 0 15 1 14 2 12 3 9 Commodity B 5 O Open in App