Suppose This Table Shows Your Demand Schedule for Tee Shirts

question 33

Essay

Suppose this table shows your demand schedule for tee shirts.(a)What is your total utility from three tee shirts? (b)What is your marginal utility from the third tee shirt? (c)If price were $2,how much would your consumer surplus be?
$$\begin{array} { | c | c | c | c | } \hline \text { Price } & \text { Quantity Demanded } & \text { Marginal Utility } & \text { Total Utility } \\\hline \$ 6 & 1 & & \\\hline \$ 5 & 2 & & \\\hline \$ 4 & 3 & & \\\hline \$ 3 & 4 & & \\\hline \$ 2 & 5 & & \\\hline \$ 1 & 6 & & \\\hline\end{array}$$

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Definitions:

Case-Control Study

is an observational study design in which two groups differing in outcome are identified and compared on the basis of some supposed causal attribute.

Obesity Status

A classification based on body mass index (BMI) to identify overweight and obese individuals based on their body fat.

Relative Risk

A measure used in epidemiology to determine the strength of the association between an exposure and an outcome, comparing the risk in the exposed group with the risk in the unexposed group.

Cohort Study

A type of observational study that follows a group of people over time to determine how certain factors affect the rates of a given outcome.