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Using the data in Table 1 and the module materials, find the number of pizzas Jameela will demand if: a.the market price is 11 b.the
Using the data in Table 1 and the module materials, find the number of pizzas Jameela will demand if:
- a.the market price is 11
- b.the market price is 19
- c.the market price is 27.
Include in each of your answers an explanation of how you arrived at your figures
Table 1: Consumer Jameela's marginal utility and willingness to pay for takeaway pizza Number of Willingness to pay for the last pizzas pizza () 1 30 2 24 3 19 4 15 5 12 6 10 7 9 Marginal utility of the last added pizza (utils) 300 240 190 150 120 100 90 Note: Jameela is willing to pay 10 pence (0.1) for each extra util of utilityStep by Step Solution
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