Question 14
HardOriginal questionA demand schedule is given.
| Price (₹) | 5 | 4 | 3 | 2 | 1 |
|---|---|---|---|---|---|
| Quantity demanded | 10 | 15 | 20 | 25 | 30 |
What is the total spending by buyers at a price of ₹3?
Show the answer and explanation
CorrectNot quiteAnswer D
Correct answer: D
Explanation
At ₹3, quantity demanded is 20.
Total spending = price × quantity = ₹3 × 20 = ₹60.
- Concept
- Spending from a demand schedule
- Typical timeTypical
- 100 s
- Your timeYours
- —
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