Bob Toshida has the demand schedule for dress shirts shown in the table below. Fill in the missing columns in the table and then answer the questions below. A) What would his total utility from three shirts be? B) What would his marginal utility from the fourth shirt be? C) if the price were $3, what would his consumer surplus be? Quantity Marginal Utility Total Utility Price Demanded $15 $12 2. $49 $6 $ 2 5.
Bob Toshida has the demand schedule for dress shirts shown in the table below. Fill in the missing columns in the table and then answer the questions below. A) What would his total utility from three shirts be? B) What would his marginal utility from the fourth shirt be? C) if the price were $3, what would his consumer surplus be? Quantity Marginal Utility Total Utility Price Demanded $15 $12 2. $49 $6 $ 2 5.
Microeconomics: Principles & Policy
14th Edition
ISBN:9781337794992
Author:William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:William J. Baumol, Alan S. Blinder, John L. Solow
Chapter5: Consumer Choice: Individual And Market Demand
Section: Chapter Questions
Problem 3DQ
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