98.8k views
4 votes
The price of apples has dropped, but Nancy does not buy any more because she has enough. To what factor of demand does this refer?

Nancy does not have the resources to purchase more apples
Nancy has reached maximum utility for apples
Apples are no longer available at the price Nancy is willing to pay
Nancy would rather eat oranges than apples
Nancy heard that apples are unhealthy

User Kannappan
by
7.0k points

2 Answers

7 votes
Nancy has reached maximum utility for apples.
User Wang Tuma
by
7.6k points
2 votes

Answer:

Nancy has reached maximum utility for apples

Explanation:

Given that the price of apples has dropped, but Nancy does not buy any more because she has enough.

This is because she has reached maximum utility for apples. So she does not want any more apples

Option A is incorrect because Nancy has resources but does not buy because she has enough.

Option C is incorrect as apples are still available at lower prices

Option D is incorrect as per given information as about oranges nothing mentioned.

User Lizanne
by
6.5k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.