The graph shows the demand and supply of dorm- room-sized fridges sold in Collegetown per semester. Given

Question:

The graph shows the demand and supply of dorm- room-sized fridges sold in Collegetown per semester. Given this information, the maximum amount that consumers are willing to pay for the 800th fridge per semester is_______

a. $20.

b. $50.

c. $50 - $20= $30.

d. $50 - $40 = $10.

e. Unknown, since the price of fridges is unknown.

Quantity (number of fridges per semester) 400 800 1200 1600 2000 2400 2800 3200 3600 4000 10 Price ($ per

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Introduction To Economics Social Issues And Economic Thinking

ISBN: 9780470574782

1st Edition

Authors: Wendy A. Stock

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Question Posted: Oct 28, 2023 06:54 AM

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The graph shows the demand and supply of dorm- room-sized fridges sold in Collegetown per semester. Given

Question:

Quantity (number of fridges per semester) 400 800 1200 1600 2000 2400 2800 3200 3600 4000 10 Price ($ per fridge) D

Step by Step Answer:

The graph shows that at a quantity of 800 fridges per semester the market price is 50 p...View the full answer

Introduction To Economics Social Issues And Economic Thinking

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