Instructions . Based on Chapters 4 and 5 from your Readings/Lessons. 1 2 points Total Expenditure as a Function of Price Demand Curve for Thongs per Person 10 Total Expenditure (S/year) 8 Price ($) N 10 Price (S/pair of shoes) Quantity The demand curve for summer thongs is shown on the right and the total expenditure as a function of price is shown on the left. Point A on the graph of total expenditure as a function of price reflects: The minimum total expenditure occurs at the price corresponding to the beginning of the demand curve. the maximum total expenditure occurs at the price corresponding to the midpoint of the demand curve The total expenditure for all prices is $50.00. O None of the above