-The figure above shows the competitive market for slices of key lime pie.If the production is 40 slices per day,someone is willing to buy another slice of pie for
A) more than it costs to produce the slice.
B) less than it costs to produce the slice.
C) an amount equal to the cost of producing the slice.
D) an amount equal to the cost of producing all 40 slices.
E) an amount that is not comparable to the cost of producing the slice.

Question

-The figure above shows the competitive market for slices of key lime pie.If the production is 40 slices per day,someone is willing to buy another slice of pie for
A) more than it costs to produce the slice. 
B) less than it costs to produce the slice. 
C) an amount equal to the cost of producing the slice. 
D) an amount equal to the cost of producing all 40 slices. 
E) an amount that is not comparable to the cost of producing the slice.

Quizplus · Accepted Answer

At a production level of 40 slices per day, the demand price (what someone is willing to pay for an additional slice) is higher than the supply price (the cost to produce an additional slice), indicating that the value to the buyer exceeds the cost of production.

-The Figure Above Shows the Competitive Market for Slices of Key