Question
Question 3 options: The table shows the marginal value (MV) schedule for person A. The marginal values are measured in dollars. Assume that the buyer
Question 3 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 |
The highest price (per unit of X) at which Person A would buy 2 units of X is
per unit of X.
The highest price (per unit of X) at which Person A would buy 3 units of X is
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Statistics Informed Decisions Using Data
Authors: Michael Sullivan III
5th Edition
9780134133539
