The table shows the maximum amount that 6 different students are willing to pay for a used textbook. Assume each student only buys one book. Suppose the supply of used textbooks is perfectly inelastic at a quantity of 4. Which of the following prices would equate the quantity supplied and quantity demanded? Buyer Value $75 $50 Breanne Nesreen Shreeva $60 $90 $85 $70 Peyton Will Kayla O A. $62 O B. $52 OC. S78 O D. $74 Reset Selection

The table shows the maximum amount that 6 different students are willing to pay for a used textbook. Assume each student only buys one book. Suppose the supply of used textbooks is perfectly inelastic at a quantity of 4. Which of the following prices would equate the quantity supplied and quantity demanded? Buyer Value $75 $50 Breanne Nesreen Shreeva $60 $90 $85 $70 Peyton Will Kayla O A. $62 O B. $52 OC. S78 O D. $74 Reset Selection

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The table shows the maximum amount that 6 different students are willing to pay for a used textbook. Assume each student only buys one book. Suppose the supply of used
textbooks is perfectly inelastic at a quantity of 4. Which of the following prices would equate the quantity supplied and quantity demanded?
Buyer Value
$75
$50
$60
$90
Breanne
Nesreen
Shreeva
Peyton
Will
$85
Kayla
$70
O A. $62
O B. $52
O C. $78
O D. $74
Reset Selection

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