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What is utility schedule ??

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What is utility schedule ??
  • 1 answers

Yogita Ingle 5 years, 2 months ago

Given below is the utility schedule of a consumer for commodity-X. The price of the commodity is Rs. 6 per unit. How many units should the consumer purchase to maximise satisfaction? (Assume that utility is expressed in units and 1 util = Rs. 1). Give reasons for your answer.

Consumption 
    (Units)
Total Utility
   (Utils)
Marginal Utility
      (Utils)
1 10 10
2 18 8
3 25 7
4 31 6
5 34 3
6 34 0
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