Homework Answers
Answer
Answer
total utility of n units =total utility of n-p units +marginal
utility of n th unit *(n-p)
TU(20)=107+10.2*10=209
TU(50)=398+9.1*10=489
MU of n th unit =(TU(n) -TU(p))/(n-p)
n>p
---
MU(30)=(307-209)/(30-20)
=9.8 and so on
----------------------------------
| Units | TU | MU |
| 0 | 0 | |
| 10 | 107 | 10.7 |
| 20 | 209 | 10.2 |
| 30 | 307 | 9.8 |
| 40 | 398 | 9.1 |
| 50 | 489 | 9.1 |
| 60 | 572 | 8.3 |
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