The total utility of consuming 6 units of a good is 255. The marginal utility of the 6th unit is 45 and the marginal utility of the 5th unit is 65. The total utility of consuming 5 units of the good is

Question

Quizplus · Accepted Answer

The formula for calculating total utility is:
Total Utility = MU1 + MU2 + MU3 + ... + MUn
Where MU1 is the marginal utility of the first unit, MU2 is the marginal utility of the second unit, and so on.
Given that the total utility of consuming 6 units of the good is 255, we can write:
255 = MU1 + MU2 + MU3 + MU4 + MU5 + MU6
We are also given that the marginal utility of the 6th unit is 45:
MU6 = 45
And the marginal utility of the 5th unit is 65:
MU5 = 65
We can use these values to find the total utility of consuming the first 5 units of the good:
255 = MU1 + MU2 + MU3 + MU4 + 65 + 45
255 = MU1 + MU2 + MU3 + MU4 + 110
MU1 + MU2 + MU3 + MU4 = 145
Therefore, the total utility of consuming 5 units of the good is 145.

The Total Utility of Consuming 6 Units of a Good