3. If we know that Joe buys 3 novels each month, we know that the range of possible prices, from maximum to minimum must be:
- $18 to $14
- $20 to $18
- $21 to $19.25
- $22.50 to $21
- $45 to $63
|
| Joe's Utility |
| Novels | Utility in $ |
| 0 | $0 |
| 1 | $25 |
| 2 | $45 |
| 3 | $63 |
| 4 | $77 |
| 5 | $88 |
| 6 | $96 |
|
