Question

Suppose the total utility function of a consumer is given by TU(x) = 2x
2
. What is the marginal
utility of X? With step?

Answer 1

The marginal utility of good X is the partial derivative of the utility function with respect to good X.

The marginal utility of good X (MUx) =$\frac{\partial TU} {\partial X} = 4X$

The marginal utility of good X (MUx) = 4X