The marginal utility for the third unit of X is 60 utils, and the marginal utility for

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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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Economics

ISBN: 978-1285738321

12th edition

Authors: Roger A. Arnold

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Question Posted: Feb 12, 2016 07:39 AM

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The marginal utility for the third unit of X is 60 utils, and the marginal utility for

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We cannot tell for certain except that it is greater than 105 utils The fir...View the full answer

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