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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

When would a good’s total utility and marginal utility be the same?

To determine

Identify the stage where the total utility becomes equal to marginal utility.

Explanation

The total utility is the overall satisfaction accrued by a consumer from all the units of a commodity, whereas the marginal utility is the additional utility accruing from consuming an additional unit. Therefore, the total utility is equal to the marginal utility only at the point where the first unit of a good is consumed...

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