Below is the marginal willingness to pay of a consumer for organic apples. a. What is this
Question:
Below is the marginal willingness to pay of a consumer for organic apples.
a. What is this individual’s total willingness to pay at a consumption level of 4 apples?
b. If the price of organic apples is $2.40, how many apples would this person consume?
Transcribed Image Text:
Consumption Level (apples per week, lbs.) 0 1 2 3 4 56 Marginal Willingness to Pay 5.00 4.00 3.20 2.60 2.20 1.80 1.50
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