your enjoyment of pizza follows the principle of diminishing marginal utility. you calculate your total utility after consuming the first slice at 10, second slice at 22, third slice at 30, and fourth slice at 35. by the fifth patty you start to feel sick. when is your marginal utility maximized?

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25-10-2022
Business

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your enjoyment of pizza follows the principle of diminishing marginal utility. you calculate your total utility after consuming the first slice at 10, second slice at 22, third slice at 30, and fourth slice at 35. by the fifth patty you start to feel sick. when is your marginal utility maximized?

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tutorconsortium115 tutorconsortium115 · Answer 1 · 2022-10-30T02:35:14-04:00

Change in satisfaction that results from a one-unit increase in the quantity of a good consumed.

TU(x) - TU = MU(x) (x – 1) The difference between the total utility received from x units of consumption and the total utility acquired from x-1 units of consumption is the marginal utility gained from the xth unit of consumption.

What are marginal and total utility?

While marginal utility is the satisfaction obtained by eating an additional amount of an item, total utility is the entire satisfaction attained from consuming a certain total quantity of that good or service.

Marginal utility is calculated as the overall utility change divided by the total consumption change.

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