Table 7-6
For each of three potential buyers of apples, the table displays the willingness to pay for the first three apples of the day. Assume Xavier, Yadier, and Zavi are the only three buyers of apples, and only three apples can be supplied per day.
-Refer to Table 7-6. If the market price of an apple is $1.40, then the market quantity of apples demanded per day is
A)1.
B)2.
C)3.
D)4.

Question

Table 7-6
For each of three potential buyers of apples, the table displays the willingness to pay for the first three apples of the day. Assume Xavier, Yadier, and Zavi are the only three buyers of apples, and only three apples can be supplied per day. 
-Refer to Table 7-6. If the market price of an apple is $1.40, then the market quantity of apples demanded per day is
A)1. 
B)2. 
C)3. 
D)4.

Quizplus · Accepted Answer

If the market price of an apple is $1.40, Xavier would be willing to buy one apple for $1.60, Yadier would be willing to buy two apples for $1.75 (since his willingness to pay for the third apple is lower than the market price), and Zavi would be willing to buy all three apples for $2.10. Therefore, the total quantity demanded at a price of $1.40 per apple would be three apples, the maximum quantity that can be supplied per day.

Table 7-6 For Each of Three Potential Buyers of Apples, the Table