Suppose That There Are Only Three Consumers of a Product

question 91

Multiple Choice

Suppose that there are only three consumers of a product. At a price of $6 per unit, the first consumer would buy 12 units of the product, the second consumer would buy 8 units, and the third consumer would buy 3 units of the product. If you drew a market demand curve for this product, the quantity demanded at a price of $6 would be

• A) 23 units.
• B) 20 units.
• C) 12 units.
• D) 11 units.

---

Definitions:

Price Hike

A general increase in the cost of goods and services, often due to inflation or increased production costs.

Unit Sales

The total units of a product that a company sells in a particular period.

Traceable Fixed Expense

A fixed cost that can be directly linked to a specific cost object, such as a product, department, or project.

Unit Sales

The total quantity of units of a product sold in a specific period.