Plot the Demand for Caviar Given the Following Information on Quantity

question 75

Essay

Plot the demand for caviar given the following information on quantity consumed and total utility; then explain why caviar sells for such a high price.
$\begin{array} { c c } \frac { \text { Quantity } } { \text { (in ounces) } } & \frac { \text { Total Utility } } { ( \text { in dollars) } } \\\hline 1 & 50 \\2 & 75 \\3 & 88 \\4 & 95 \\5 & 99\end{array}$

---

Definitions:

Income Statement

A financial statement that shows a company's revenues, expenses, and net income over a specific period, reflecting the company's financial performance.

Balance Sheet

A financial statement that shows a company's assets, liabilities, and shareholder equity at a specific point in time, offering a snapshot of its financial condition.

Stockholder

An individual or entity that owns shares in a corporation and therefore has a claim on part of its assets and earnings.

Share Price

The price of a single share of a company's stock in the stock market.