When given the marginal utility of the first five units of a product,we can calculate the total utility by
A) finding the difference between the fourth and fifth units.
B) finding the difference between the first and fifth units.
C) looking at the marginal utility of the fifth unit.
D) adding the fourth and fifth units.
E) adding the marginal utilities of the first five units.

Question

Quizplus · Accepted Answer

To calculate the total utility, we need to sum up the marginal utilities of all the units consumed. So, adding the marginal utilities of the first five units will give us the total utility of these units. Hence, the correct answer is E.

When Given the Marginal Utility of the First Five Units