Question
Question 1 options: The table shows the marginal value (MV) schedule for person A. The marginal values are measured in dollars. Assume that the buyer
Question 1 options:
The table shows the marginal value (MV) schedule for person A. The marginal values are measured in dollars. Assume that the buyer will buy if the price is smaller and equals the MV. Enter your answers in numerals.
| Quantity of X | MV |
| 1 | 20 |
| 2 | 18 |
| 3 | 16 |
| 4 | 14 |
| 5 | 12 |
| 6 | 10 |
| 7 | 8 |
| 8 | 6 |
| 9 | 4 |
| 10 | 2 |
| 11 | 0 |
Person A's MV of the 6th unit of X is and the total value of 6 unitsis .
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Econometrics By Example
Authors: Damodar Gujarati
2nd Edition
1137375019, 9781137375018
