(Table: Willingness to Pay for Peanuts)Using the table Willingness to Pay for Peanuts,if the price of a bag of peanuts is $9,who will purchase a bag?
A)George only
B)all of the consumers
C)Dave only
D)Alvin and Theodore only

Question

Quizplus · Accepted Answer

At a price of $9, only George will purchase a bag of peanuts because his willingness to pay is at or above $9, while the willingness to pay of the other consumers is below $9.

(Table: Willingness to Pay for Peanuts)Using the Table Willingness to Pay