Question

A recent conversation with my neighbor, Linda, resulted in the table at right which lists her marginal willingness to pay (mWTP) values for lobster dinners at our favorite restaurant in any given month.«* lobster* | MWTP (S 504 40. 300 20 10a 6 or more' a. (3 points) Use a discrete bar chart to graph Linda's marginal WTP for lobster dinners.* b. (3 points) What is Linda's marginal willingness to pay for a third lobster dinner?- c. (3 points)- What is Linda's total willingness to pay for five lobster dinners?» d. (3 points) If the market price for a lobster dinner is is S25, how many dinners will Linda consume this month?-

Answer 1

A see pic

B 30

C =50+40+30+20+10=150

D 3 that anything where Mwtp> or equal to price