If the total utility derived from consuming three oysters was 40 utils and the total utility derived from consuming four oysters was 62 utils, what was the marginal utility derived from the consumption of the fourth oyster?
A) 102 utils
B) 62 utils
C) 22 utils
D) It is impossible to determine.

Question

Quizplus · Accepted Answer

Marginal utility refers to the additional utility a person derives from consuming one more unit of a good. To find the marginal utility derived from the consumption of the fourth oyster, we need to calculate the difference between the total utility of consuming four oysters and the total utility of consuming three oysters.

Therefore, the marginal utility of the fourth oyster is:

Marginal utility = Total utility of four oysters – Total utility of three oysters
Marginal utility = 62 utils – 40 utils
Marginal utility = 22 utils

The correct answer is C, 22 utils.

If the Total Utility Derived from Consuming Three Oysters Was