-The figure above shows the market for milk. If 100 gallons of milk a day are available, the ________ price that consumers are willing to pay for the last gallon is ________.
A) maximum; $2.50
B) minimum; $3.00
C) maximum; $4.00
D) minimum; $4.00

Question

-The figure above shows the market for milk. If 100 gallons of milk a day are available, the ________ price that consumers are willing to pay for the last gallon is ________.
A) maximum; $2.50 
B) minimum; $3.00 
C) maximum; $4.00 
D) minimum; $4.00

Quizplus · Accepted Answer

The maximum price consumers are willing to pay for the last gallon when 100 gallons are available is $4.00, as indicated by the demand curve at that quantity.

-The Figure Above Shows the Market for Milk