(Figure: Demand Curve) Which of the following statements is TRUE regarding the figure? I. At a price of $6 per unit, consumers are willing and able to buy 10 units. II. The maximum price demanders are willing to pay for 15 units is $3.75 per unit. III. The higher the price, the greater the quantity demanded. IV. At a price of $3.75 per unit, consumers are indifferent between buying 10 and 15 units.
A) I only
B) I and II only
C) I, II, and III
D) I, II, and IV

Question

(Figure: Demand Curve) Which of the following statements is TRUE regarding the figure?  I. At a price of $6 per unit, consumers are willing and able to buy 10 units. II. The maximum price demanders are willing to pay for 15 units is $3.75 per unit. III. The higher the price, the greater the quantity demanded. IV. At a price of $3.75 per unit, consumers are indifferent between buying 10 and 15 units.
A) I only 
B) I and II only 
C) I, II, and III 
D) I, II, and IV

Quizplus · Accepted Answer

The Answer is B

(Figure: Demand Curve) Which of the Following Statements Is TRUE