Question: Need assistance with this question i. Suppose the linear demand curve for shirts slopes downward and that consumers buy 500 shirts per year when the

Need assistance with this question

i. Suppose the linear demand curve for shirts slopes downward and that consumers buy 500 shirts per year when the price is $30 and 1,000 shirts per year when the price is $25. Compared to the prices of $30 and $25, what can you say about the marginal valuation that consumers place on the 300th shirt, the 700th shirt, and the 1,200th shirt they might buy each year

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1. Identify your reference point when making a decision based on an element of risk.

3. If there are reasonable alternatives, think about your decisions based on the different reference points and see if there are any contradictions in the decisions.

4. It is only at this point that you can give the problem your full attention in relation to the various ways you have framed the problem.