Question $69(1$ point$)$

Use Table: Total Utility of Income After University Expenses and Scenario: University Expenses. The Perez family experiences marginal utility as income increases. The marginal utility of income between $$32,500$ and $$35,000$ is utils per dollar, while it is utils per dollar between $$45,000$ and $$47,500.$

Scenario: University Expenses

The Perez family would like to send their eldest daughter, Luciana, to university in the fall semester. There is a $25\%$ chance that Luciana will earn a full scholarship to Queen's University, leaving the Perez family with $$50,000$ in income after tuition and related educational expenses; a $50\%$ chance that Luciana will earn a partial scholarship to McGill University and that the Perez family will have $$40,000$ in income after tuition and related educational expenses; and a $25\%$ chance that she will attend the University of British Columbia, and that the Perez family will consequently have $$30,000$ in income after tuitipn and related educational expenses.

Table: Total Utility of Income After University Expenses

$\backslash$table$[[$Income$,$Total utility $($in utils$)],[$$$30,000,1,000],[$$$32,500,1,800],[$$$35,000,2,500]]$