Which of the Following Statements Is Correct

question 151

Multiple Choice

Which of the following statements is correct?
i.The demand curve shows the maximum price people are willing to pay for a given quantity of the good.
ii.The maximum price a consumer is willing to pay for an additional unit is the marginal benefit of that unit.
iii.Value is what a consumer receives and price is what a consumer pays.

• A) i only
• B) ii only
• C) iii only
• D) i and iii
• E) i, ii, and iii

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