S Equivalent Utility gains What is the monetary value of our consumer's gain-to-trading in the rice market at a price of $pG?
◆What is the monetary value of our consumer’s gain-to-trading in the rice market at a price of $pG? $ Equivalent Utility Gains
S Equivalent Utility gains The dollar equivalent net utility gain for the 1st kilogram is $(r,-pG and is $(r2-p) for the 2nd kilogram, c and so on so the dollar value of the gain-to-trade is $(r1-p)+$(r2-p)+ for as long as rn -pG>0
◆The dollar equivalent net utility gain for the 1st kilogram is $(r1 - pG) ◆and is $(r2 - pG) for the 2nd kilogram, ◆and so on, so the dollar value of the gain-to-trade is $(r1 - pG) + $(r2 - pG) + … for as long as rn - pG > 0. $ Equivalent Utility Gains
S Equivalent Utility gains (s)Res Reservation price Curve for gasoline Values pG 5 6 23456 Gasoline(gallons)
$ Equivalent Utility Gains Reservation Price Curve for Gasoline 0 2 4 6 8 10 Gasoline (gallons) ($) Res. Values 1 2 3 4 5 6 r1 r2 r3 r4 r5 r6 pG
S Equivalent Utility gains (S)Res Reservation Price Curve for Gasoline Values s value of net utility gains-to-trade pG 5 6 23456 Gasoline(gallons)
$ Equivalent Utility Gains Reservation Price Curve for Gasoline 0 2 4 6 8 10 Gasoline (gallons) ($) Res. Values 1 2 3 4 5 6 r1 r2 r3 r4 r5 r6 pG $ value of net utility gains-to-trade
S Equivalent Utility gains Suppose rice can be purchased in any continuous quantity then ■■■
Suppose rice can be purchased in any continuous quantity then ... $ Equivalent Utility Gains