Question

A student faced with a computer programming assignment due next week has no idea how to...

A student faced with a computer programming assignment due next week has no idea how to begin his assignment. He feels a desperate need for tutoring assistance and states that he would "pay anything" for help. If this were true, what shape would his demand curve have (price on the vertical axis & quantity of tutoring hours on the horizontal axis)? Why is this not realistic?

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Answer #1

It can be no matter what the price is he would ready to pay because he is in a desperate need and this means for a fixed 30 of work enterprise is ready to pay as a result of which the quantity is same and the price can be anything which means the demand curve is vertical Quantity on x axis and price on y axis. however it is not realistic in nature in this is because of the fact that there is a certain amount of willingness to pay for every individual for a particular good as no good in the worth infinite price on the whole.

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