How to calculate Total utility, marginal utility and weighted marginal utility

This video illustrated how to complete a table of total, marginal and weighted marginal utility as well as how to find the consumer equilibrium in utility in microeconomics.

[@Nahangoselly]

I used to get confused on the "mu" formula, but now I understand, thank u soo much ma'am

[@NamakauZhinga]

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[@ollyedulearning]

Thank you...Much appreciated 👏

[@j-man7994]

Very helpful. Ms explained everything very well and clearly.

[@natalianangula3359]

very much Helpful, now I understand better. Thank you so much !

[@nobuhlemiya4280]

The explanation was good and clear😊😊😊

[@ngaripuetjangura6294]

This was really very helpful ...thank you 👏 🙂 ☺ 👌 😊 👍 👏

[@justyshimana4865]

This was very helpful. Thank you ms

[@davidkalakpegbonimy3545]

thanks a lot you explained very well

[@simonvataleni6829]

thank you so much, i wish you can be my teacher one day,, i have already subscribed

[@patrickkatanga3918]

Good morning Madam, I really appreciate your video, thanks ones again.

[@wezichileshe1032]

Thanku you’re good at it

[@GamerGod-hq3ws]

Nice lesson

[@houstonulomi6720]

Thank you so much

[@Sayda-yj8fy]

Thank you so much for this video ...... This video really helped me a lot .....😊

[@ollyedulearning]

Most welcome 😊

[@rundunaizer7024]

Thanks again

[@tapiwadenzel4064]

thank you so much mam

[@juliamarianajohnson3618]

Very helpful! Thanks!

[@ntandoluphahla5620]

Thank you soooo much ❤️😭you literally just saved my degree

[@ollyedulearning]

Hi Luphahla....I'm glad my video was of help..plz subscribe and share with your colleagues. I will appreciate that🙏👏❤

[@gabanthateemilymoliki7925]

Very helpful, if only I can understand the last part of equilibrium

[@ALMA_iileka]

Absolutely lovely 🫶🏽 clear explanation 🤌🏾

[@kianabulanadi6070]

Thank you so much po!!!

[@ollyedulearning]

You welcome Kiana😊

[@strongestbelier_na8425]

Thank you Miss

[@ollyedulearning]

You Welcome Hango

[@siphephiledlamini2970]

Thanks a lot for this video. It most definitely did help me. My question is, do we never consider weighted marginal utility that are not equal?

[@ollyedulearning]

Hi Siphephile Dlamini....Thank you for your comment. To answer your question, No if the marginal utilities are not the same we do not consider that as it does not meet the 2 conditions for consumer equilibrium or utility maximisation. 1. The budget is full spent on the 2 goods. 2. The weighted marginal utility for 2 goods are equal.

[@siphephiledlamini2970]

@@ollyedulearning wow, thanks a lot.🙂😃

[@wilkajoel5791]

How will you calculate the weighted utility with the missing price?

[@gabanthateemilymoliki7925]

❤

[@rithashintango5072]

How do we calculate or get Total Utility (TU ) when it’s not given ?

[@ollyedulearning]

Hi Ritha....Total utility is the sum of all marginal utilities...

[@clarksales4088]

What if the difference of quantity is not 1? For example quantities are not 0, 1, 2 but 2, 4, 7?

[@ollyedulearning]

@Clark Sales Thanks for the comment, It's safe to use the formula which is change in total utility ÷ change in quantity. Example: Quantity Total utility marginal utility 1 60 60-0/1-0 = 60 3 180 180-60/3-1=40 7 240

[@crystalmillavanderbyl8173]

What if it exceeds the budget?

[@ollyedulearning]

Hi Crystal milla Vanderbyl.....Thank you for your question We are looking for the optimal quantities that can be purchased using the available budget. Exceeding the budget will not be optimal because we can not afford such a combination. Take an example, You have $20 dollars only and that is your budget for apples and bananas per week. If one apple is $2 and one banana is $5. Now we want to find out the maximum number of bananas and maximum number of apples we can buy using $20. We can not afford to go beyond the budget. I hope i have answered your question.

[@j-man7994]

Ms can you help me out with a question on Utility?

[@ollyedulearning]

Yes you can drop your questions...

[@j-man7994]

@@ollyedulearning Ms I have it on paper, it's a table that I am struggling with, can I send it to you via WhatsApp to help?

[@ollyedulearning]

@@j-man7994 yes

[@juliabrockbank9484]

I thought weighted marginal utility is equal to marginal utility times consumers budget

[@marthapenehafogabriel1993]

How do i calculate TU if I'm given MU?

[@ollyedulearning]

Hi Martha....TU is the sum of all MU example Q MU TU 1 24 24 always equal 2 20 44 (MU @1 + MU @2)(24+20) 3 18 64 (24 + 20 + 18)

[@marthapenehafogabriel1993]

@@ollyedulearning thank you for your help i manage😍

[@user-os4oc5zm9l]