(Figure: Demand Curve) Which of the Following Statements Is TRUE

question 109

Multiple Choice

(Figure: Demand Curve) Which of the following statements is TRUE regarding the figure? I. At a price of $6 per unit, consumers are willing and able to buy 10 units. II. The maximum price demanders are willing to pay for 15 units is $3.75 per unit. III. The higher the price, the greater the quantity demanded. IV. At a price of $3.75 per unit, consumers are indifferent between buying 10 and 15 units.

• A) I only
• B) I and II only
• C) I, II, and III
• D) I, II, and IV

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Definitions:

Selective Retention

The process by which individuals remember information that is consistent with their beliefs and forget information that is not.

External Stimuli

These are factors or events in the external environment that can provoke a response or reaction from individuals or systems.

Buying Center

A Buying Center consists of all the individuals and units that participate in the business decision-making process for purchasing products or services.

B₂B Customers

Businesses that purchase goods or services from other businesses for use in their operations or reselling.