If a demand curve goes through the point P = $6 and Qd = 400, then $6 is the highest price consumers will pay for 400 units. consumers will buy more than 400 if price is $6. 400 units are the most consumers will buy if price is $6. $6 is the lowest price consumers can be charged to induce them to buy 400 units. both a and c

If a demand curve goes through the point P = $6 and Qd = 400, then $6 is the highest price consumers will pay for 400 units. consumers will buy more than 400 if price is $6. 400 units are the most consumers will buy if price is $6. $6 is the lowest price consumers can be charged to induce them to buy 400 units. both a and c

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter6: Simple Pricing

Section: Chapter Questions

Problem 6MC

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If a demand curve goes through the point P = $6 and Qd = 400, then

$6 is the highest price consumers will pay for 400 units.
consumers will buy more than 400 if price is $6.
400 units are the most consumers will buy if price is $6.
$6 is the lowest price consumers can be charged to induce them to buy 400 units.
both a and c

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