Suppose that your demand schedule for jeans is shown in the table below.
A)Your total utility from 5 pairs of jeans would be ____.
B)Your marginal utility for the fifth pair would be ____.
C)If the price of jeans were $10 a pair,your consumer surplus would be ____.
$$\begin{array}{cccc}\text{ Price }& \text{ Quantity Demanded }& \text{ Marginal Utility }& \text{ Total Utility }\\ \$60& 1& & \\ \$50& 2& & \\ \$40& 3& & \\ \$25& 4& & \\ \$10& 5& & \end{array}$$

Total Utility

The entire enjoyment experienced from the use of a particular quantity of goods or services.

Marginal Utility

The supplementary enjoyment or advantage gained by a customer from the consumption of one more unit of a good or service.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service relative to its market price, indicating the economic benefit to consumers.