Question

Use the figure below to answer the following question. Price (dollars per apple) 1.50 1.00 9 12 Quantity (thousands of apples per week) Figure 5 21) Which one of the following statements best characterizes point B in Figure 5? A) At point B, the market is in equilibrium. B) The most that consumers would be willing to pay for the 9,000th apple is $0.50. C) At a price of $0.50, there will be an apple shortage. D) Producers would be unwilling to sell the 9,000th apple for less than $0.50. E) At a price of $0.50, consumers will be unwilling to buy any apples.