Table 7-6 For Each of Three Potential Buyers of Apples, the Table

question 176

Multiple Choice

Table 7-6
For each of three potential buyers of apples, the table displays the willingness to pay for the first three apples of the day. Assume Xavier, Yadier, and Zavi are the only three buyers of apples, and only three apples can be supplied per day.
-Refer to Table 7-6. If the market price of an apple is $1.40, then the market quantity of apples demanded per day is

• A)1.
• B)2.
• C)3.
• D)4.

---

Definitions:

Cost of Goods Sold

The total direct costs attributable to the production of the goods sold by a company.

Raw Materials

Basic materials that are used to produce goods, finished products, or intermediate materials which are feedstock for future finished products.

Raw Materials Inventory

Stock of materials that are to be used in the production of goods, not yet processed or incorporated into finished products.

Raw Materials

Raw Materials are the basic substances or components that are converted through manufacturing processes into finished goods.