The figure above shows the demand curve for pizza and the market price of pizza.
-In the figure above,how much is the consumer who buys the 5,000th pizza willing to pay for that pizza?
A) $15
B) $10
C) $12
D) $22.50
E) $5

Question

The figure above shows the demand curve for pizza and the market price of pizza.
-In the figure above,how much is the consumer who buys the 5,000th pizza willing to pay for that pizza?
A) $15 
B) $10 
C) $12 
D) $22.50 
E) $5

Quizplus · Accepted Answer

The consumer who buys the 5,000th pizza is willing to pay $15 for that pizza. This is determined by the demand curve, which shows the maximum price consumers are willing to pay for each quantity of the good. At the quantity of 5,000 pizzas, the demand curve intersects the price axis at $15, indicating the willingness to pay for the 5,000th pizza.

The Figure Above Shows the Demand Curve for Pizza and the Market