Compute a range of possible values for total gain

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Q. Recall that the total gain without the price ceiling is $66. If you add your answer for the gain captured by sellers to each of your answers for the two problems about gain for buyers, you can calculate a range of possible values for total gain with a price ceiling. The range for total gain is:

Q. Illustrate what is meant by the term 'utility,' and how does it relate to purposeful behavior?". In one to three pages, fully explain your answer in a way that shows your understanding of "utility" and human behavior.

Reference no: EM1364374

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