Question: The marginal utility for the third unit of X is 60 utils, and the marginal utility for the fourth unit of X is 45 utils.
The marginal utility for the third unit of X is 60 utils, and the marginal utility for the fourth unit of X is 45 utils. If the law of diminishing marginal utility holds, what is the minimum total utility of X?
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We cannot tell for certain except that it is greater than 105 utils The fir... View full answer
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