Question

6. Find out Marginal Utility from the following table:

Units consumed 1 2 3 4 5

Total Utility 10 18 24 28 30

Marginal Utility - - - - -

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Answer 1

Explanation:

MU = TUn - TUn-1

For 2 unit MU = 18-10 = 8

UNIT TU MU

1 10 10

2 18 8

3 24 6

4 28 4

5 30 2