Each point on a demand curve shows the ________ price that consumers will pay to consume that quantity.The demand curve therefore shows the ________ to consumers from consuming the product.
A)maximum; cost
B)minimum; cost
C)maximum; value
D)minimum; value
E)equilibrium; equilibrium price

Question

Quizplus · Accepted Answer

Each point on a demand curve shows the maximum price that consumers are willing to pay to consume a specific quantity. The demand curve reflects the value that consumers place on the product by showing the maximum they are willing to pay for each quantity. Therefore, the correct answer is C, maximum value.

Each Point on a Demand Curve Shows the ________ Price