Use the figure below to answer the following questions. Figure 3.2.1
-Point A in Figure 3.2.1 indicates that
A)$1 is the least that consumers are willing to pay for the 4,000th apple.
B)consumers will not be in equilibrium if the price of an apple is $1.
C)consumers will only pay $1 for any apple.
D)if the price is $1,consumers will plan to buy 4,000 apples.
E)if the price is more than $1,consumers will buy 9,000 apples.

Question

Use the figure below to answer the following questions.  Figure 3.2.1
-Point A in Figure 3.2.1 indicates that
A)$1 is the least that consumers are willing to pay for the 4,000th apple. 
B)consumers will not be in equilibrium if the price of an apple is $1. 
C)consumers will only pay $1 for any apple. 
D)if the price is $1,consumers will plan to buy 4,000 apples. 
E)if the price is more than $1,consumers will buy 9,000 apples.

Quizplus · Accepted Answer

Point A represents the maximum price consumers are willing to pay for the 4,000th apple, which is $1. At this price, consumers will plan to buy 4,000 apples, which is the equilibrium quantity. Therefore, the correct choice is D.

Use the Figure Below to Answer the Following Questions