Levels of satistfaction based on price
1) Suppose an individual has the utility schedule:
Q UTILITY IN DOLLARS
0 0
1 100
2 180
3 250
4 300
5 340
6 370
7 390
8 400
A)Suppose P=55. What is the individual's optimal level consumption? What is his level of net satisfaction from this good?
B)Suppose p=15. What is the individual's optimal level consumption? What is his level of net satisfaction from this good?