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17 Oct 2018
Use the following information to answer the next 3 questions. The following table reflects the willingness of Earl, Mooch, Ozzie, and Shnelly to pay for different quantities of milkhakes. For example, after consuming 2 milkshakes, Earl would be wiling to pay $1 for a third milkshake. Earl Mooch Ozzie Shnelly Willingness to Pay 1st Shake 2nd Shake 3rd Shake 4th Shake $3 $2 $8 $2 $3 $2 $6 You should assume that a consumer always purchases a good if his or her willingness to pay is greater than or equal to the price of the good. 4. If the price of milkshakes is $4 per shake, then what will be the quantity of shakes demanded? (a) 6 milkshakes. (b) 4 milkshakes. (c) 3 milkshakes. (d) 5 milkshakes.
Use the following information to answer the next 3 questions. The following table reflects the willingness of Earl, Mooch, Ozzie, and Shnelly to pay for different quantities of milkhakes. For example, after consuming 2 milkshakes, Earl would be wiling to pay $1 for a third milkshake. Earl Mooch Ozzie Shnelly Willingness to Pay 1st Shake 2nd Shake 3rd Shake 4th Shake $3 $2 $8 $2 $3 $2 $6 You should assume that a consumer always purchases a good if his or her willingness to pay is greater than or equal to the price of the good. 4. If the price of milkshakes is $4 per shake, then what will be the quantity of shakes demanded? (a) 6 milkshakes. (b) 4 milkshakes. (c) 3 milkshakes. (d) 5 milkshakes.
Tod ThielLv2
20 Oct 2018
