Table 7-10 The Only Four Consumers in a Market Have the Following

question 142

Multiple Choice

Table 7-10
The only four consumers in a market have the following willingness to pay for a good:
Buyer Willingness to Pay

-Refer to Table 7-10. If there is only one unit of the good available for purchase, and if the buyers bid against each other for the right to purchase it, then the good will sell for

• A) $12 or slightly less
• B) $15 or slightly more
• C) $19 or slightly more
• D) $27 or slightly less