Visualizing marginal utility MU and total utility TU functions
8:10
Khan Academy
Visualizing marginal utility MU and total utility TU functions
This video shows how we can visualize marginal utility (MU) and total utility (TU) functions graphically.
Feb 19, 2019
Utility Function Explained
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SOLVED:Assess your utility function in two different ways. a Use the certainty-equivalent approach to assess your utility function for wealth over a range of 100 to 20,000. b Use the probability-equivalent approach to assess U( 1500), U( 5600), U( 9050), and U( 13,700). Are these assessments consistent with the assessments made in part a? Plot these assessments and those from part a on the same graph and compare them.
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SOLVED:Assess your utility function in two different ways. a Use the certainty-equivalent approach to assess your utility function for wealth over a range of 100 to 20,000. b Use the probability-equivalent approach to assess U( 1500), U( 5600), U( 9050), and U( 13,700). Are these assessments consistent with the assessments made in part a? Plot these assessments and those from part a on the same graph and compare them.
SOLVED:Assess your utility function in two different ways. a U…
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numerade.com
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