Demand and Utility Table for Milk Shakes -If the Price of Milk Shakes Was $2

question 51

Multiple Choice

Demand and Utility Table for Milk Shakes $$\begin{array} { | c | c | c | c | } \hline \text { Price } & \text { Quantity Demanded } & \text { Marginal Utility } & \text { Total Utility } \\\hline \$ 4 & 1 & & \\\hline \$ 3.50 & 2 & & \\\hline \$ 3.00 & 3 & & \\\hline \$ 2.50 & 4 & & \\\hline \$ 2.00 & 5 & & \\\hline\end{array}$$
-If the price of milk shakes was $2.50 each,your total utility would be ______ and your marginal utility would be ______.

• A)$13.00 and $4.00
• B)$15.00 and $4.00
• C)$13.00 and $2.50
• D)$15.00 and $2.50

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Definitions:

Exchange Orientation

A perspective in relationships focusing on the balance of rewards and costs between the parties involved, often in the context of social or work-related interactions.

Expert Power

The influence one possesses as a result of experience, special skill, or knowledge, which others see as valuable.

Social Power

Pertains to the ability of an individual or group to influence the behavior of others within a social structure.

Expert Power

The influence one holds as a result of one's expertise, skill, or knowledge.