Question 17
MediumOriginal questionThe marginal utilities of the first three units of a good are 15, 12 and 9 utils. What is the total utility of 3 units?
Show the answer and explanation
CorrectNot quiteAnswer C
Correct answer: C
Explanation
TU₃ = 15 + 12 + 9 = 36 utils.
Worth noting
27 adds only the last two; 45 multiplies the first MU by 3.
- Concept
- TU from a list of MUs
- Typical timeTypical
- 70 s
- Your timeYours
- —
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Ten questions from Utility & Consumer's Equilibrium, at your own pace.