Use the following to answer questions :
Figure 5-1
-Refer to Figure 5-1.What is total demand at P = 3?
A)20
B)25
C)27.5
D)45
E)None of the above

Name: Use the following to answer questions : Figure 5-1 -Refer to Figure 5-1.What is total demand at P = 3? A)20 B)25 C)27.5 D)45 E)None of the above
Brand: Quizplus
Rating: 4.7 (29 reviews)

Question

Use the following to answer questions :
Figure 5-1  
-Refer to Figure 5-1.What is total demand at P = 3?
A)20 
B)25 
C)27.5 
D)45 
E)None of the above

Quizplus · Accepted Answer

At P=3, the total demand is the sum of the quantities demanded by consumers A, B and C which is 10+12.5+5=27.5. Therefore, the best choice would be to produce a quantity of 27.5 to meet the total demand.

Use the Following to Answer Questions