Gilberto's reservation prices for tubs of hummus are given below. Q (Tubs) 1 2 3 Answer: 4 5 6 Reservation Price ($) 28 22 16 14 13 11 Gilberto can also consume other foods which give him a constant marginal utility of 8.8 utils and cost $6.2. What is Gilberto's marginal utility from the 4th tub of hummus?
Gilberto's reservation prices for tubs of hummus are given below. Q (Tubs) 1 2 3 Answer: 4 5 6 Reservation Price ($) 28 22 16 14 13 11 Gilberto can also consume other foods which give him a constant marginal utility of 8.8 utils and cost $6.2. What is Gilberto's marginal utility from the 4th tub of hummus?
Chapter7: Consumer Choice: Maximizing Utility And Behavioral Economics
Section: Chapter Questions
Problem 3WNG
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