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Bob Toshida Has the Demand Schedule for Dress Shirts Shown

Question 132

Essay

Bob Toshida has the demand schedule for dress shirts shown in the table below.
A)His total utility from three shirts would be ____.
B)His marginal utility from the fourth shirt would be ____.
C)If the price were $3,his consumer surplus would be ____.
 Price  Quantity Demanded  Marginal Utility  Total Utility $151$122$93$64$25\begin{array} { | c | c | c | c | } \hline \text { Price } & \text { Quantity Demanded } & \text { Marginal Utility } & \text { Total Utility } \\\hline \$ 15 & 1 & & \\\hline \$ 12 & 2 & & \\\hline \$ 9 & 3 & & \\\hline \$ 6 & 4 & & \\\hline \$ 2 & 5 & & \\\hline\end{array}

Correct Answer:

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\[\begin{array} { | c | c | c | c | }
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