Math Problem Statement

The table shows a consumer's utility schedule for Good X.

Number of Units of ConsumedMarginal Utility

0

0

1

14

2

18

3

16

4

10

5

5

The total utility from consuming four units of Good X

Multiple Choice

is 58.

is 48.

is 10.

cannot be determined with the information provided.

Solution

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Math Problem Analysis

Mathematical Concepts

Economics
Utility Theory
Marginal Utility
Total Utility

Formulas

Total Utility = Sum of Marginal Utilities

Theorems

Diminishing Marginal Utility

Suitable Grade Level

Grades 10-12 (High School Economics)