Table 5-2 According to Table 5-2, Robinson's total utility from having two coconuts is ____.

Question

Table 5-2  According to Table 5-2, Robinson's total utility from having two coconuts is ____.

Quizplus · Accepted Answer

From the table, we can see that Robinson has a total utility of 17 from coconut 1 and a total utility of 7 from coconut 2. Therefore, his total utility from having two coconuts is 24. Using the formula for total utility, we can calculate the marginal utility for each coconut: MU1 = (17 - 6) = 11 and MU2 = (7 - 3) = 4. Since MU1 is greater than MU2, Robinson should consume more of coconut 1 and less of coconut 2. It is not determinable from the information given which alternative gives the best choice.

Table 5-2 According to Table 5-2, Robinson's Total Utility