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Suppose Spencer and Kate Are the Only Two Demanders of Lemonade

question 517

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? 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)  B only B)  B and D only C)  A and C only D)  D only


Definitions:

Carpels

The female reproductive organs of a flower, comprising the stigma, style, and ovary, which may occur singly or fused together to form a compound ovary.

Ovary

A female reproductive organ in which ova or eggs are produced, present in humans and other vertebrates as a pair.

Stamen

The stamen is the male reproductive part of a flower composed of the anther and filament, responsible for producing pollen.

Volatile Chemicals

Substances that easily vaporize at normal temperatures and pressures, often having strong odors.

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