Table 7-1

$$\begin{array} { | c | c | }
\hline \text { Buyer } & \begin{array} { c }
\text { Willingness to Pay } \
\text { (Dollars) }
\end{array} \
\hline \text { John } & 150 \
\hline \text { Sam } & 135 \
\hline \text { Andrew } & 125 \
\hline \text { Keira } & 100 \
\hline
\end{array}$$
-Refer to Table 7-1. If the price of the product is $120, then who would be willing to purchase the product?
A)John
B)John and Sam
C)John, Sam, and Andrew
D)John, Sam, Andrew, and Keira

Question

Table 7-1
​
​
 $$\begin{array} { | c | c | } 
\hline \text { Buyer } & \begin{array} { c } 
\text { Willingness to Pay } \
\text { (Dollars) }
\end{array} \
\hline \text { John } & 150 \
\hline \text { Sam } & 135 \
\hline \text { Andrew } & 125 \
\hline \text { Keira } & 100 \
\hline
\end{array}$$ ​
-Refer to Table 7-1. If the price of the product is $120, then who would be willing to purchase the product?
A)John
B)John and Sam
C)John, Sam, and Andrew
D)John, Sam, Andrew, and Keira

Quizplus · Accepted Answer

John, Sam, and Andrew would be willing to purchase the product because their willingness to pay is equal to or greater than the price of $120. Keira would not, as her willingness to pay is below the price.

Table 7-1 ​ ​ ​ -Refer to Table 7-1

Table 7-1

-Refer to Table 7-1