Use the following to answer questions:
-(Table: Willingness to Pay for Peanuts) Using the table Willingness to Pay for Peanuts, if the price of a bag of peanuts is $2:
A) all of the consumers would purchase a bag.
B) everyone except Dave would purchase a bag.
C) everyone except George would purchase a bag.
D) no one would purchase a bag.

Question

Use the following to answer questions: 
-(Table: Willingness to Pay for Peanuts) Using the table Willingness to Pay for Peanuts, if the price of a bag of peanuts is $2:
A) all of the consumers would purchase a bag. 
B) everyone except Dave would purchase a bag. 
C) everyone except George would purchase a bag. 
D) no one would purchase a bag.

Quizplus · Accepted Answer

The price of a bag of peanuts is $2. All consumers are willing to pay at least $2 for a bag of peanuts, so all of them would purchase a bag.

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