Suppose Spencer and Kate Are the Only Two Demanders of Lemonade.Each

question 209

Multiple Choice

Suppose Spencer and Kate are the only two demanders of lemonade.Each month,Spencer buys six glasses of lemonade when the price is $1.00 per glass,and he buys four glasses when the price is $1.50 per glass.Each month,Kate buys four glasses of lemonade when the price is $1.00 per glass,and she buys two glasses when the price is $1.50 per glass.Which of the following points is on the market demand curve?

• A)(quantity demanded = 4, price = $2.50)
• B)(quantity demanded = 16, price = $2.50)
• C)(quantity demanded = 3, price = $1.50)
• D)(quantity demanded = 10, price = $1.00)

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Definitions:

Current Assets

Assets that are expected to be converted into cash, sold, or consumed within one year or the business's operating cycle, whichever is longer.