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Figure 19.2.1 -Refer to Figure 19.2.1 Above. the Price Level of $40

Question 32

Multiple Choice

  Figure 19.2.1 -Refer to Figure 19.2.1 above. The price level of $40 illustrates the fact that: A)  the price of a shovel increases to $40 during a snow storm. B)  $40 is an unfair price for shovels, so no consumer would ever pay that amount. C)  some consumers are willing to pay as much as $40 for a shovel, even in the absence of a snow storm. D)  all of the above are true. Figure 19.2.1
-Refer to Figure 19.2.1 above. The price level of $40 illustrates the fact that:


A) the price of a shovel increases to $40 during a snow storm.
B) $40 is an unfair price for shovels, so no consumer would ever pay that amount.
C) some consumers are willing to pay as much as $40 for a shovel, even in the absence of a snow storm.
D) all of the above are true.

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