Question

33. From the given schedule find" total utility":-

units consumed
1
2
3
4
5
6

Marginal Utility
10
15
7
8
4
5

Plz Explain serial wise plz​

Answer 1

Answer:

i dont have the answer but i have the explanation

Explanation:

A consumer consumes goods X and Y. Given below is his marginal utility schedule for goods X and Y. Suppose, the price of X is Rs.2, Y is Rs.1 and income Rs.12. State the law of Equimarginal utility and explain how the consumer will attain equilibrium.

Units 1 2 3 4 5 6

MU

X

16 14 12 10 8 6

MU

Y

11 10 9 8 7 6