Table 7-3 The Only Four Consumers in a Market Have the Following

question 367

Multiple Choice

Table 7-3
The only four consumers in a market have the following willingness to pay for a good:
-Refer to Table 7-3. If the market price for the good is $20, who will purchase the good?

• A)Ming-la only
• B)Carlos and Quilana only
• C)Quilana and Wilbur only
• D)Quilana, Wilbur, and Ming-la only

---

Definitions:

Joseph McCarthy

Joseph McCarthy was an American senator known for leading the charge against alleged communist infiltration of United States government institutions during the 1950s, a period known as the McCarthy era.

Defense Department

The part of the United States federal government responsible for coordinating and supervising all agencies and functions of the government directly related to national security and the United States Armed Forces.

Communist Party

A political organization advocating the principles of communism, including the pursuit of a classless society through the overthrow of capitalism.

Taft-Hartley Act

1947 law passed over President Harry Truman’s veto; the law contained a number of provisions to weaken labor unions, including the banning of closed shops.