Suppose Spencer and Kate are the only two demanders of lemonade.Each month,Spencer buys six glasses of lemonade when the price is $1.00 per glass,and he buys four glasses when the price is $1.50 per glass.Each month,Kate buys four glasses of lemonade when the price is $1.00 per glass,and she buys two glasses when the price is $1.50 per glass.Which of the following points is on the market demand curve?
A) (quantity demanded = 4, price = $2.50)
B) (quantity demanded = 16, price = $2.50)
C) (quantity demanded = 3, price = $1.50)
D) (quantity demanded = 10, price = $1.00)
Correct Answer:
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