Economy Q:

Avatar Image
Guest51 | 13:21 Wed 21st Apr 2021 | Jobs & Education
1 Answers
If an indifference curve is totally flat and Y is a typical good with finite
marginal utility, what is the marginal utility of X?


Only 1 answerrss feed

Best Answer

No best answer has yet been selected by Guest51. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.
Marginal utility = total utility difference / quantity of goods difference

Find the total utility of the first event.
Find the total utility of the second event.
Find the difference between both (or all) events.
Find the difference between the number of goods between both (or all) events.
Apply the formula.

The site where I found this gives an example for you to follow towards the bottom of the page.

Only 1 answerrss feed

Do you know the answer?

Economy Q:

Answer Question >>