What is the formula for an isoelastic utility function? Microeconomics Theory of Consumer Choice Total utility and marginal utility 1 Answer Yonas Yohannes Jan 20, 2016 #U(x) = 1/(eta-1) x^( 1-eta)# Where #1-eta = "elasticity"# # x = "wealth"# #eta get 0; eta ne 0 => "constant coefficient of risk aversion"# Answer link Related questions What is an example of marginal and total utility? How can marginal utility be measured? How does marginal utility explain volume based discounts? If an 8 oz coffee costs $1.00 and a 12 oz coffee costs $1.25, would consumers buy a 16 oz coffee... How do you calculate total utility? What is a diminishing marginal rate of substitution? What is the marginal rate of substitution? Why don't indifference curves intersect? See all questions in Total utility and marginal utility Impact of this question 3248 views around the world You can reuse this answer Creative Commons License