Figure 21-19
The following graph illustrates a representative consumer's preferences for marshmallows and chocolate chip cookies:

-Refer to Figure 21-19.Assume that the consumer depicted the figure has an income of $50.Based on the information available in the graph,which of the following price-quantity combinations would be on her demand curve for chocolate chips if the price of marshmallows is $2.50?
A) P=$2.50, Q=6
B) P=$2.50, Q=10
C) P=$5.00, Q=3
D) P=$5.00, Q=5

Question

Figure 21-19
The following graph illustrates a representative consumer's preferences for marshmallows and chocolate chip cookies:
 
-Refer to Figure 21-19.Assume that the consumer depicted the figure has an income of $50.Based on the information available in the graph,which of the following price-quantity combinations would be on her demand curve for chocolate chips if the price of marshmallows is $2.50?
A) P=$2.50, Q=6 
B) P=$2.50, Q=10 
C) P=$5.00, Q=3 
D) P=$5.00, Q=5

Quizplus · Accepted Answer

According to the graph, at a price of $2.50 for marshmallows, the consumer would be willing to buy 10 units of chocolate chips. This combination of price and quantity would lie on the consumer's demand curve for chocolate chips. Therefore, the answer is B.

Figure 21-19 The Following Graph Illustrates a Representative Consumer's Preferences for Marshmallows