This Graph Shows One Consumer's Demand for Ice Cream at the Student

question 100

Multiple Choice

This graph shows one consumer's demand for ice cream at the student union:
During the semester,the student union sells a total of 7,200 scoops of ice cream at a price of $2.00 per scoop.If every student who buys ice cream has the demand curve shown,there must be _________ students purchasing ice cream.

• A)800
• B)1,200
• C)1,500
• D)2,000

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Definitions:

Descriptive Statements

Statements that describe or explain information, phenomena, or findings without offering opinions or arguments.

Contributed Capital

The total value of the cash and other assets given by shareholders in exchange for shares of the company's stock.

Bonds Payable

Long-term debt instruments issued by a company to borrow funds, where the company agrees to pay back the principal along with interest on specified dates.

Premium on Preferred Stock

The amount by which the issue price of preferred stock exceeds its par value, typically reflective of additional benefits such as higher dividends.