Figure 21-5
(a)
(b)
-Refer to Figure 21-5. In graph (a), if income is equal to $200, then the price of good X is
A)$12.
B)$16.
C)$20.
D)$24.

Question

Figure 21-5
(a)
(b)  
-Refer to Figure 21-5. In graph (a), if income is equal to $200, then the price of good X is
A)$12. 
B)$16. 
C)$20. 
D)$24.

Quizplus · Accepted Answer

In graph (a), at an income level of $200, the demand curve for good X intersects with the price axis at approximately $20, indicating that $20 is the maximum price consumers would be willing to pay for good X at that income level.