Exhibit 6.3

-Refer to Exhibit 6.3,which shows the demand curve for neckties.At point a,total expenditure on neckties is _____
A)$5.
B)$9.
C)$20.
D)$26.
E)$45.

Name: Exhibit 6.3 -Refer to Exhibit 6.3,which shows the demand curve for neckties.At point a,total expenditure on neckties is _____ A)$5. B)$9. C)$20. D)$26. E)$45.
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Question

Exhibit 6.3
 
-Refer to Exhibit 6.3,which shows the demand curve for neckties.At point a,total expenditure on neckties is _____
A)$5. 
B)$9. 
C)$20. 
D)$26. 
E)$45.

Quizplus · Accepted Answer

At point a, the quantity demanded of neckties is 4 and the price per necktie is $5. Therefore, the total expenditure on neckties is 4 x $5 = $20.

Exhibit 6.3 -Refer to Exhibit 6.3,which Shows the Demand Curve for Neckties.At