Purchase Solution

Total Utiliilty and Marginal Utility

Not what you're looking for?

Ask Custom Question

Using the following information, calculate total utility and marginal utility.
A. Plot the total utility curve
B. Plot marginal utility directly below total utility
C. At what marginal utility value does total utility reach at maximum?

Number of utils for the first unit 300
Number of utils for the second unit 250
Number of utils for the third unit 220
Number of utils for the fourth unit 160
Number of utils for the fifth unit 100
Number of utils for the sixth unit 50
Number of utils for the seventh unit 20
Number of utils for the eighth unit 0
Number of utils for the ninth unit -225

Purchase this Solution
Solution Summary

Total utility and marginal utility is examined.

Purchase this Solution
Free BrainMass Quizzes
Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

View More Free Quizzes
Related BrainMass Solutions

  • Marginal utility and optimal consumption

    = Total utility previous + Marginal utility additional consumption Marginal utility = Total utility new consumption - Total utility previous NOTE: Please see the Excel file for the computations QUESTION B The number of cans of soda pop and pretzels

  • Consumer Equilibrium

    She purchases coffee at 25 cents a unit with a total utility of 800 and a marginal utility of 12. Doughnuts are purchase at 75 cents a unit with a total utility of 200 and a marginal utility of 24.

  • Marginal utility

    237884 Marginal utility. Q1: Exercise and Total Utility The table below shows a consumer's total utility from consuming hours of exercise at the gym.

  • Total and Marginal Utility

    This solution computes for total and marginal utility. Some marginal utility data are left blank and solved using mathematical formula.

  • Diminishing marginal utility implies

    C) total utility is negative. D) total utility is increasing. E) marginal utility of a good diminishes over time.

  • Calculating the optimal bundles of consumption

    Assume that an individual consumes two goods, X and Y. The total utility of each good is independent of the rate of consumption of the other good. The price of X and Y are $40 and $60 respectively.

  • Total Utility and Marginal Utility

    502400 Total Utility and Marginal Utility Using the Diamond-Water Paradox as a guide, use two other goods of your choice to illustrate the concept and explain the roles played by total utility and marginal utility.

  • Economics: Law of Diminishing Marginal Utility (2 questions)

    Therefore, twenty gallons of water will give us greater total utility, because the quantity is greater. (2) The marginal utility of a commodity decreases as more and more of that commodity is consumed.

  • Marginal Utility for three foods

    more cup of cottage cheese and one cup of popcorn- Total utility at this point -342; Carbohydrate consumption - 34 gram Step 5: The next highest marginal utility is for fifth cup of cottage cheese (8 per gram), and second cup of popcorn (8 per gram),

View More Related Solutions