For each of three potential buyers of apples, the table displays the willingness to pay for the first three apples of the day. Assume Xavier, Yadier, and Zavi are the only three buyers of apples, and only three apples can be supplied per day. Table 1 First Apple Second Apple Third Apple Xavier $1.75 $1.55 $1.15 Yadier $1.50 $1.25 $0.75 Zavi $1.30 $1.10 $0.70 16. Refer to Table 1. If the market price of an apple is $1.40, then the market quantity of apples demanded per day is
For each of three potential buyers of apples, the table displays the willingness to pay for the first three apples of the day. Assume Xavier, Yadier, and Zavi are the only three buyers of apples, and only three apples can be supplied per day. Table 1 First Apple Second Apple Third Apple Xavier $1.75 $1.55 $1.15 Yadier $1.50 $1.25 $0.75 Zavi $1.30 $1.10 $0.70 16. Refer to Table 1. If the market price of an apple is $1.40, then the market quantity of apples demanded per day is
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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For each of three potential buyers of apples, the table displays the willingness to pay for the first three
apples of the day. Assume Xavier, Yadier, and Zavi are the only three buyers of apples, and only three
apples can be supplied per day.
Table 1
First Apple Second Apple Third Apple
Xavier $1.75 $1.55 $1.15
Yadier $1.50 $1.25 $0.75
Zavi $1.30 $1.10 $0.70
16. Refer to Table 1. If the market price of an apple is $1.40, then the market quantity of apples
demanded per day is
a. 1.
b. 2.
c. 3.
d. 4.
17. Refer to Table 1. If the market price of an apple is $1.40, then
a. $0.60.
b. $1.20.
c. $1.40.
d. $3.40
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