Assume that the marginal utilities for the first three units of a good consumed are 200, 150, and 125 respectively. What is the total utility for the first unit?
200
To calculate the total utility for the first unit, you need to sum up the marginal utilities of all the units consumed up to that point.
In this case, the marginal utilities for the first three units are given as 200, 150, and 125 respectively.
So, to calculate the total utility for the first unit:
Total Utility = Marginal Utility of the First Unit
Therefore, the total utility for the first unit would be 200.
To find the total utility for the first unit, you need to add up the marginal utilities of all the preceding units.
In this case, the marginal utility for the first unit is given as 200. Since there are no preceding units, the total utility for the first unit is simply equal to its marginal utility, which is 200.