Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The total utility of 5 units of good X is 30 utils and the total utility of 7 units of good X is 36 utils.

The total utility of 5 units of good X is 30 utils and the total utility of 7 units of good X is 36 utils. The marginal utility of the 6th unit of good X is equal to

Select one:

a.6 utils.

b.66 utils.

c.22 utils.

d.0 utils.

e.none of the above.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Macroeconomics

Authors: Andrew B. Abel, Ben S. Bernanke, Dean Croushore, Ronald D. Kneebone

6th Canadian Edition

321675606, 978-0321675606

More Books

Students also viewed these Economics questions

Question

Is the sample selected related to the target population?

Answered: 1 week ago