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 $ 9 $ 6 $ 2 3 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 $ 9 $ 6 $ 2 3 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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