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)
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