When Given the Marginal Utility of the First Five Units

question 21

Multiple Choice

When given the marginal utility of the first five units of a product,we can calculate the total utility by

• A) finding the difference between the fourth and fifth units.
• B) finding the difference between the first and fifth units.
• C) looking at the marginal utility of the fifth unit.
• D) adding the fourth and fifth units.
• E) adding the marginal utilities of the first five units.

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Definitions:

Fertilizer

A substance added to soil to enhance its fertility by supplying essential nutrients to plants.

Bushels

A unit of volume commonly used in agriculture, particularly in the United States, for measuring quantities of grain, fruits, and other dry commodities.

Price

The amount of currency needed to buy a good or service.

Profit

The financial gain realized when the amount of revenue earned from business activities exceeds the expenses, costs, and taxes needed to sustain the operation.