ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Jeremy has $15, 000 to spend on a new car. He found a car that was priced at $14, 500, but he did not think the car was worth more than $12, 000. The dealer told Jeremy that he has not been able to sell this model because other customers have expressed the same opinion as Jeremy. Does demand of this car exist?
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Yes, bc consumers like the car but don’t buy it.
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Yes, bc consumers think the car is worth $12, 000.
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No, bc consumers do not have the buying power to purchase this car.
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No, bc consumers are not willing to pay the price being asked for this car.
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Explanation:
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