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不 There are four consumers willing to pay the following amounts for an electric car: Consumer 1: $70,000 Consumer 2: $50,000 Consumer 3: Consumer 4: $30,000 $80,000 There are four firms that can produce electric cars. Each can produce one car at the following costs: Firm A: $70,000 Firm B: $20,000 Firm C: $40,000 Firm D: $50,000 Each firm can produce at most one car. Suppose the market for electric cars is competitive. Why is the equilibrium price in this market $50,000? Submit quiz OA. At this price, the quantity demanded (three cars) equals the quantity supplied (three cars). OB. At this price, three consumers are willing to buy an electric car and three firms are willing to sell an electric car. OC. At $50,000, three consumers have reservation values equal to or above $50,000 and three firms have reservation values equal to or below $50,000. OD. All of the above. Which firms will produce an electric car if the price is $50,000? 01. B, A, and D. 2. A, C, and D. 611 Time Remaining: 01:42:38

不 There are four consumers willing to pay the following amounts for an electric car: Consumer 1: $70,000 Consumer 2: $50,000 Consumer 3: Consumer 4: $30,000 $80,000 There are four firms that can produce electric cars. Each can produce one car at the following costs: Firm A: $70,000 Firm B: $20,000 Firm C: $40,000 Firm D: $50,000 Each firm can produce at most one car. Suppose the market for electric cars is competitive. Why is the equilibrium price in this market $50,000? Submit quiz OA. At this price, the quantity demanded (three cars) equals the quantity supplied (three cars). OB. At this price, three consumers are willing to buy an electric car and three firms are willing to sell an electric car. OC. At $50,000, three consumers have reservation values equal to or above $50,000 and three firms have reservation values equal to or below $50,000. OD. All of the above. Which firms will produce an electric car if the price is $50,000? 01. B, A, and D. 2. A, C, and D. 611 Time Remaining: 01:42:38

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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不 There are four consumers willing to pay the following amounts for an electric car: Consumer 1: $70,000 Consumer 2: $50,000 Consumer 3: Consumer 4: $30,000 $80,000 There are four firms that can produce electric cars. Each can produce one car at the following costs: Firm A: $70,000 Firm B: $20,000 Firm C: $40,000 Firm D: $50,000 Each firm can produce at most one car. Suppose the market for electric cars is competitive. Why is the equilibrium price in this market $50,000? Submit quiz OA. At this price, the quantity demanded (three cars) equals the quantity supplied (three cars). OB. At this price, three consumers are willing to buy an electric car and three firms are willing to sell an electric car. OC. At $50,000, three consumers have reservation values equal to or above $50,000 and three firms have reservation values equal to or below $50,000. OD. All of the above. Which firms will produce an electric car if the price is $50,000? 01. B, A, and D. 2. A, C, and D. 611 Time Remaining: 01:42:38
Transcribed Image Text:不 There are four consumers willing to pay the following amounts for an electric car: Consumer 1: $70,000 Consumer 2: $50,000 Consumer 3: Consumer 4: $30,000 $80,000 There are four firms that can produce electric cars. Each can produce one car at the following costs: Firm A: $70,000 Firm B: $20,000 Firm C: $40,000 Firm D: $50,000 Each firm can produce at most one car. Suppose the market for electric cars is competitive. Why is the equilibrium price in this market $50,000? Submit quiz OA. At this price, the quantity demanded (three cars) equals the quantity supplied (three cars). OB. At this price, three consumers are willing to buy an electric car and three firms are willing to sell an electric car. OC. At $50,000, three consumers have reservation values equal to or above $50,000 and three firms have reservation values equal to or below $50,000. OD. All of the above. Which firms will produce an electric car if the price is $50,000? 01. B, A, and D. 2. A, C, and D. 611 Time Remaining: 01:42:38
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