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 ____.
• \[\begin{array} { | c | c | c | c | }
• \hline \text { Price } & \text { Quantity Demanded } & \text { Marginal Utility } & \text { Total Utility } \\
• \hline \$ 12 & 1 & & \\
• \hline \$ 10 & 2 & & \\
• \hline \$ 6 & 3 & & \\
• \hline \$ 4 & 4 & & \\
• \hline \$ 2 & 5 & & \\
• \hline
• \end{array}\]