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

question 93

Essay

Suppose that your demand schedule for jeans is shown in the table below.
A)Your total utility from 5 pairs of jeans would be ____.
B)Your marginal utility for the fifth pair would be ____.
C)If the price of jeans were $10 a pair,your consumer surplus would be ____.
$$\begin{array} { | c | c | c | c | } \hline \text { Price } & \text { Quantity Demanded } & \text { Marginal Utility } & \text { Total Utility } \\\hline \$ 60 & 1 & & \\\hline \$ 50 & 2 & & \\\hline \$ 40 & 3 & & \\\hline \$ 25 & 4 & & \\\hline \$ 10 & 5 & & \\\hline\end{array}$$

• A)Your total utility from 5 pairs of jeans would be ____.
• B)Your marginal utility for the fifth pair would be ____.
• C)If the price of jeans were $10 a pair,your consumer surplus would be ____.
• \[\begin{array} { | c | c | c | c | }
• \hline \text { Price } & \text { Quantity Demanded } & \text { Marginal Utility } & \text { Total Utility } \\
• \hline \$ 60 & 1 & & \\
• \hline \$ 50 & 2 & & \\
• \hline \$ 40 & 3 & & \\
• \hline \$ 25 & 4 & & \\
• \hline \$ 10 & 5 & & \\
• \hline
• \end{array}\]

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Definitions:

Cleavage

In geology, the tendency of crystalline materials to split along definite crystallographic structural planes, creating flat, shiny surfaces.

Monocline

A geological feature where sedimentary layers are tilted or bent along a single axis.

Strike-Slip Fault

A type of fault where the movement is predominantly horizontal, caused by shear stress, often resulting in earthquakes.

Asymmetric Fold

A geological fold where the two sides are uneven or asymmetrical, typical in areas of complex tectonics.