When given the marginal utility of the first five units of a product, you can calculate the total utility by:
A) finding the difference between the fourth and fifth units.
B) finding the difference between the first and fifth units.
C) looking at the marginal utility of the fifth unit.
D) adding the fourth and fifth units.
E) adding the marginal utilities of the first five units.

Question

Quizplus · Accepted Answer

To calculate total utility, you need to add the marginal utilities of all the units consumed. Therefore, adding the marginal utilities of the first five units (as given) will give us the total utility for those five units.

When Given the Marginal Utility of the First Five Units