Question 49
MediumOriginal questionThe demand function for a brand of earphones is , where is the price in rupees and the quantity demanded. The market price is ₹14.
What is the most buyers of the earphones would have been willing to pay in all for that quantity?
Show the answer and explanation
CorrectNot quiteAnswer D
Correct answer: D
Explanation
It is the area under the demand curve: .
.
Worth noting
₹300 forgets to subtract .
- Concept
- Willingness to pay as an area
- Typical timeTypical
- 120 s
- Your timeYours
- —
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