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Law of Diminishing Marginal Product

Total utility...

Question

Total utility at 3rd unit?

A

80

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B

113

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C

39

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D

78

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Solution

The correct option is B 113
There are many ways to calculate total utility through average and marginal utility. One of such ways are summation of marginal utility. So total utility of 3rd unit is the summation of marginal utility of 1st, 2nd, and 3rd units that is 40+38+35 = 113.

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Q. From the following data answer the question-

Slices of Bread	Total Utility	Average Utility	Marginal Utility
1	40	40	40
2	78	---	38
3	---	---	35
4	144	36	31
5	170	---	---
6	---	31.7	20
7	---	---	13
8	---	26	5
9	---	---	-4

The total utility at the 3rd unit is ______.

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