The table below is a Marginal Value schedule for person A. It shows As MV for product
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The table below is a Marginal Value schedule for person A. It shows A’s MV for product X relative to product Y. Assume if the price equals MV the buyer will buy.
Quantity of X | MV of X in terms of Y |
1 | 50 |
2 | 45 |
3 | 40 |
4 | 35 |
5 | 30 |
6 | 25 |
7 | 20 |
8 | 15 |
9 | 10 |
10 | 5 |
11 | 0 |
13. a. A’s mv of the 4th unit of X is _______
b. What is the total value of 4 units to A ______.
Related Book For
Auditing and Assurance services an integrated approach
ISBN: 978-0134065823
16th edition
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Chris E. Hogan
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