Suppose That Your Demand Schedule for CDs Is Shown in the Table

question 6

Essay

Suppose that your demand schedule for CDs is shown in the table below.
A)Your total utility from 4 CDs would be ____.
B)Your marginal utility from the fourth CD would be ____.
C)If the price were $2,your consumer surplus would be ____.
$$\begin{array} { | c | c | c | c | } \hline \text { Price } & \text { Quantity Demanded } & \text { Marginal Utility } & \text { Total Utility } \\\hline \$ 12 & 1 & & \\\hline \$ 10 & 2 & & \\\hline \$ 6 & 3 & & \\\hline \$ 4 & 4 & & \\\hline \$ 2 & 5 & & \\\hline\end{array}$$

• A)Your total utility from 4 CDs would be ____.
• B)Your marginal utility from the fourth CD would be ____.
• C)If the price were $2,your consumer surplus would be ____.
• \[\begin{array} { | c | c | c | c | }
• \hline \text { Price } & \text { Quantity Demanded } & \text { Marginal Utility } & \text { Total Utility } \\
• \hline \$ 12 & 1 & & \\
• \hline \$ 10 & 2 & & \\
• \hline \$ 6 & 3 & & \\
• \hline \$ 4 & 4 & & \\
• \hline \$ 2 & 5 & & \\
• \hline
• \end{array}\]

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Definitions:

Discipline

A method of teaching or training, especially to improve behavior, that often includes setting rules and consequences.

Guidance

Advice or information aimed at resolving a problem or reaching a decision.

Consequences Approach

A method or strategy that emphasizes the outcomes or results of actions, particularly in educational or behavioral contexts.

Cultures

The shared values, norms, beliefs, languages, and practices of particular groups of people that shape their worldview and ways of living.