According to the Information Provided, If Dozens of Residents Have

Multiple Choice

According to the information provided, if dozens of residents have their own wells, which of the following statements most adequately describes the behaviour of sellers of water?

A) sellers will be able to charge a premium for the water
B) the price of a gallon of water will be driven to equal its marginal cost
C) the price of a gallon of water will exceed its marginal cost
D) since water is a necessity of life, there will be no decline in the quantity of water consumed, regardless of how high the price is raised