(Figure: Demand Curve) Which of the following statements isTRUE regarding the figure?
I. At a price of $6 per unit, consumers are willing and able tobuy 10 units
II.The maximum price demanders are willing to pay for 15units 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 indifferentbetween buying 10 and 15 units.

Question

(Figure: Demand Curve) Which of the following statements isTRUE regarding the figure?
 I. At a price of $6 per unit, consumers are willing and able tobuy 10 units
II.The maximum price demanders are willing to pay for 15units 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 indifferentbetween buying 10 and 15 units.

Quizplus · Accepted Answer

I is true because at a price of $6 per unit, the quantity demanded is 10 units. 
II is true because the highest price demanders are willing to pay for 15 units is $3.75 per unit. 
III is false because, according to the figure, the higher the price, the lower the quantity demanded. 
IV is false because at a price of $3.75 per unit, the quantity demanded is 15, not indifferent between 10 and 15.

(Figure: Demand Curve) Which of the Following Statements IsTRUE Regarding