不There are four consumers willing to pay the following amounts for an electric car:Consumer 1:$70,000Consumer 2:$50,000Consumer 3:Consumer 4:$30,000$80,000There are four firms that can produce electric cars. Each can produce one car at the following costs:Firm A:$70,000Firm B:$20,000Firm C:$40,000Firm D:$50,000Each firm can produce at most one car. Suppose the market for electric cars is competitive.Why is the equilibrium price in this market $50,000?Submit quizOA. At this price, the quantity demanded (three cars) equals the quantity supplied (three cars).OB. At this price, three consumers are willing to buy an electric car and three firms are willing to sell an electric car.OC. At $50,000, three consumers have reservation values equal to or above $50,000 and three firms have reservation values equal to or below$50,000.OD. All of the above.Which firms will produce an electric car if the price is $50,000?01. B, A, and D.2. A, C, and D.611Time Remaining: 01:42:38

a)When the price is $50,000, three consumers (all except 4)are willing to buy an electric car…

Answered: 不 There are four consumers willing to…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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