Using the marginal utility schedule in question 8, begin in consumer equilibrium, and assume the price per hamburger meal falls from $5 to $2, all other factor held constant what is the total utility realized
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Expert's answer
2017-05-04T09:00:09-0400
Total utility is the sum of marginal utilities of all the units of product consumed, but as we have no access to the maginal utility data from question 8, we can't calculate total utility.
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