Question

Question 1201 polnt) $5.00 450 F 4.00 200 120- 100F 1 2 3 467 8910 Refer to the above dlag ram This buyers mar Inal willlngness to pay for the 7th bag of potato chlps sInclude the dollar sgn and 2declmal places In your answer Question 13(1 polnt) s uppose the prike of pr inters rses. What wou ld happen on the demand skde of the market for printer Ink cartrldges? (Quantity demanded of cartriges wll fall, whkh s shown as a movetment down the de mand curve for cartidges. Fewer cartrdges would now be demanded atany gven prike, which s shown as a leftward shlft In the de mand cu rve for cartrdges. Quantity demanded of cartridges will fall, whkch s shown as a mave ment up the de mand curve for cartrdges None of these statements b correct since the marke t for printers s Inde pendent of the market for printer cartriges,

Answer 1

Marginal willingness to pay for 7th bag of potato chips is $1.50

Option 3.

Quantity demanded and price have inverse relation, which is shown as the upward movement along the demand curve.