If a Demand Curve Goes Through the Point P = $Q _ { d }$

question 26

Multiple Choice

If a demand curve goes through the point P = $6 and $Q _ { d }$ = 400,then

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

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Definitions:

Bankruptcy Petition

A formal request filed in court by a debtor seeking relief from unmanageable debts, initiating bankruptcy proceedings.

Consumer Good

A good used or bought for use primarily for personal, family, or household purposes.

Insolvency

A financial state in which an individual or entity is unable to meet its debt obligations or pay its bills as they come due.

Priority Claims

Debts that are given special status by bankruptcy law, which must be paid before other debts in a bankruptcy proceeding.