-The figure above shows the demand curve for pizza and the market price of pizza.
In the figure above,how much do the consumers pay in total for the quantity of pizza they buy per day?
A) $100,000
B) $150,000
C) $125,000
D) $50,000
E) None of the above answers is correct.

Question

-The figure above shows the demand curve for pizza and the market price of pizza.
In the figure above,how much do the consumers pay in total for the quantity of pizza they buy per day?
A) $100,000 
B) $150,000 
C) $125,000 
D) $50,000 
E) None of the above answers is correct.

Quizplus · Accepted Answer

The total amount consumers pay is equal to the area under the demand curve up to the quantity purchased. In this case, the quantity purchased is 1000 pizzas per day and the price is $100 per pizza. Therefore, the total amount consumers pay is 1000 * $100 = $100,000.

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