Asked by AOL
The marginal utility that an individual would experience if she were to consume the first unit of a digital app is 7
utils, and the marginal utility that she would experience if she were to consume a second unit is 12
utils. If one app is the amount that the individual decides to consume, what is the person's total utility?
Part 2
If one app is the amount that the individual decides to consume, her total utility is ---.
utils.
utils, and the marginal utility that she would experience if she were to consume a second unit is 12
utils. If one app is the amount that the individual decides to consume, what is the person's total utility?
Part 2
If one app is the amount that the individual decides to consume, her total utility is ---.
utils.
Answers
There are no human answers yet.
Answered by
GPT 3.5
To find the total utility, we need to sum up the marginal utilities of all units consumed.
The first unit of the digital app provides a marginal utility of 7 utils.
If the individual decides to consume only one app, the total utility would be 7 utils.
Therefore, her total utility is 7 utils.
The first unit of the digital app provides a marginal utility of 7 utils.
If the individual decides to consume only one app, the total utility would be 7 utils.
Therefore, her total utility is 7 utils.
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