Demand and Utility Table for MilkshakesPriceQuantityMarginalDemandedUtilityTotalUtility$41$3.50$3.003$2.504$2.005If the price of milkshakes were $2.00 each, this consumer's consumer surplus would be$15.00O, $11.00$10.00O $5.00

Knowing the consumer area under the demand curve for milkshakes when its price is two food bucks per…

Demand and Utility Table for Milkshakes Price Quantity Marginal Total Demanded Utility Utility $4 1 $3.50 2 $3.00 3 $2.50 4 $2.00 5 If the price of milkshakes were $2.00 each, this consumer's consumer surplus would be O $15.00 $11.00 $10.00 $5.00

Demand and Utility Table for Milkshakes Price Quantity Marginal Total Demanded Utility Utility $4 1 $3.50 2 $3.00 3 $2.50 4 $2.00 5 If the price of milkshakes were $2.00 each, this consumer's consumer surplus would be O $15.00 $11.00 $10.00 $5.00

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Demand and Utility Table for Milkshakes
Price
Quantity
Marginal
Demanded
Utility
Total
Utility
$4
1
$3.50
$3.00
3
$2.50
4
$2.00
5
If the price of milkshakes were $2.00 each, this consumer's consumer surplus would be
$15.00
O, $11.00
$10.00
O $5.00

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