The Following Table Shows David's Willingness to Pay for Ice

question 95

Essay

The following table shows David's willingness to pay for ice cream.
(A)Calculate David's marginal benefit from ice cream.
(B)Draw David's individual demand curve for ice cream.
(C)Suppose the price of one gallon of ice cream is $3.How much will David consume,and what is his consumer surplus? Show your answer graphically as well as numerically.

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Definitions:

Fixed-Ratio

A schedule of reinforcement where a response is reinforced only after a specified number of responses, commonly used in learning and behavior analysis.

Lever Pressing

A method used in experimental psychology to measure the behavior of animals, typically involving the animal learning to press a lever to receive a reward.

Food Pellets

Small, compressed units of food often used in laboratory experiments as a reward for animals.

Intermittent Reinforcement

A conditioning schedule in which rewards or punishments are given out at irregular intervals, making the response more resistant to extinction.