Consider a buyer whose valuation for successive units of a good is as follows. q V(q) MV(q) 0$0 – 1 $12 2 $10 3 $8 4 $5 where q is quantity, V (q) is the total valuation, and M V (q) is the marginal valuation. 1. Fill out the table. 2. Sketch the buyer’s marginal valuation as a function of quantity. Clearly label your graph.

Consider a buyer whose valuation for successive units of a good is as follows. q V(q) MV(q) 0$0 – 1 $12 2 $10 3 $8 4 $5 where q is quantity, V (q) is the total valuation, and M V (q) is the marginal valuation. 1. Fill out the table. 2. Sketch the buyer’s marginal valuation as a function of quantity. Clearly label your graph.

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter6: Consumer Choice And Demand

Section: Chapter Questions

Problem 6QFR

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