Suppose the Market Demand Curve for a Good Passes Through

question 64

Multiple Choice

Suppose the market demand curve for a good passes through the point (quantity demanded = 100, price = $25) . If there are five buyers in the market, then

• A)the marginal buyer's willingness to pay for the 100^th unit of the good is $25.
• B)the sum of the five buyers' willingness to pay for the 100^th unit of the good is $25.
• C)the average of the five buyers' willingness to pay for the 100^th unit of the good is $25.
• D)all of the five buyers are willing to pay at least $25 for the 100^th unit of the good.

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