What is the max price the consumers are willing to pay

Reference no: EM133710939

Question: Use the figure to answer three questions. The x-axis is labeled Quantity Demanded (cars per year) and numbered 1 through 9 in increments of 1 unit. The y-axis is labeled Price (dollars per car) and numbered 600,000 to 1,050,000 in increments of 50,000 units. Points are plotted as black dots at Fred (1, 1 million), Michel (2, 950,000), Hua (3, 900,000), Carlos (4, 847,975), John (5, 800,000), Marty (6, 750,000), Bob (7, 700,000), and Blaise (8, 650,000). A green line connects these points. If the price of a Spyder drops to $700,000, what is the max price the consumers are willing to pay

Reference no: EM133710939

Questions Cloud

Provide a brief description of the selected organization : Provide a brief description of the selected organization with a specific focus on the data (content) that will be used as the basis for the projects in course.

Cerebral astrocytoma ask nurse about childs prognosis : The parents of a child diagnosed with cerebral astrocytoma ask the nurse about their child's prognosis. Which response by the nurse would be most appropriate?

The impact of immigration in the economy : Undocumented migrants reported that their employers withheld Social Security taxes from their pay and 62 per cent that employers withheld income taxes

How much consumer surplus will there be if all the cars : If the price of a Spyder drops to $700,000, How much consumer surplus will there be if all the cars are sold at that price?

What is the max price the consumers are willing to pay : A green line connects these points. If the price of a Spyder drops to $700,000, what is the max price the consumers are willing to pay

Football player presents with fatigue and abdominal pain : A 16-year-old high-school football player presents with fatigue and abdominal pain 14 days after enduring a heavy upper-body tackle.

In your second round as a? buyer, your wtp will change : Your goal is to buy the good for the lowest price? possible, in order to make your gains? (the difference between an accepted bid and your? WTP) as large

The nurse notes patient has crackles and dyspnea : The nurse notes a patient has crackles and dyspnea. What does this indicate? The patient's right side of the heart is affected.

Modern technology offers opportunity to attain health : The role of modern technology offers an opportunity to attain health and care services more convenient, accessible and efficient to become widespread.

User Account

All Pages