What is his level of net satisfaction from this good, Business Economics

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What is his level of net satisfaction from this good

Levels of satistfaction based on price

1) Suppose an individual has the utility schedule:

Q UTILITY IN DOLLARS
0 0
1 100
2 180
3 250
4 300
5 340
6 370
7 390
8 400

A)Suppose P=55. What is the individual's optimal level consumption? What is his level of net satisfaction from this good?

B)Suppose p=15. What is the individual's optimal level consumption? What is his level of net satisfaction from this good?

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Business Economics: What is his level of net satisfaction from this good

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Recent Questions Asked Business Economics

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Request for Solution File

Ask an Expert for Answer!!

Business Economics: What is his level of net satisfaction from this good

Reference No:- TGS027870

Recent Questions Asked Business Economics

Q : What is the diminishing marginal concept

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