Class Notes (839,486)
United States (326,000)
EC 203 (9)
Lecture

Demand curve.pdf

3 Pages
135 Views

Department
Economics (EC)
Course Code
EC 203
Professor
nejemraheem

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Description
marginal utilitythe additional benet you get from consuming the unitThe chocolate peanut butter cup experiment Downward sloping demand curvesDemand curvesmarginal benet curves or willingness to pay curvesWillingness to pay is a common measurement among everyoneWould you do this vs how much would you be willing to pay to do this WTPmarginal benet from consuming thatTotal utility Add up the utlesAdditional utility you get from consuming something is a downward sloping curveAs the price decreases the quanti
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