-Refer to the above figure. The highest price that consumers would be willing to pay for quantity Q₂ is
A)P₂.
B)P₀.
C)P₁.
D)cannot be determined from the diagram.

Question

-Refer to the above figure. The highest price that consumers would be willing to pay for quantity Q₂ is
A)P₂. 
B)P₀. 
C)P₁. 
D)cannot be determined from the diagram.

Quizplus · Accepted Answer

The highest price consumers are willing to pay for a given quantity is determined by the demand curve. At quantity Q₂, the corresponding price on the demand curve is P₁.

-Refer to the Above Figure